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German Economy Minister defended Nord Stream 2

German Federal Minister of Economy Peter Altmeier said that the Nord Stream 2 gas pipeline should be built to the end.

In an interview with Handelsblatt, he said that it’s impossible to question projects that span several decades every couple of months. In his opinion, this may scare away private investors who are investing a lot of money.

“If this is the case, then private investors will refuse to invest in such projects. As for Nord Stream, this is a project with the participation of various European countries. Gas supplies are intended not only for Germany but also for many other EU countries. So The topic of the second Nord Stream concerns the whole of Europe and the entire West. Therefore, we will discuss further actions with our partners. But there will be no public statements on this issue in advance, "Altmeier said.

In his opinion, critics of the pipeline should ask themselves: “Where should gas come from in the future?”

“We all proceed from the assumption that consumption by European countries will grow as production volumes in the EU are declining. In addition, this is due to the fact that after the rejection of nuclear and coal energy for the transition period, it is gas that will play a special role. We should think about where we can get the necessary gas, “the minister said.

Altmaier also warned against the risks associated with the new sanctions. According to him, they often harm not only the countries against which they were introduced but also the economic relations of German and European companies in general.

“We, as a country that is very active in foreign economic activity, must ask ourselves what effect the sanctions will have and how much they can harm us,” the minister added.

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