Germany has taken steps to halt the process of certifying the Nord Stream 2 gas pipeline from Russia, Chancellor Olaf Scholz announced today, after the Kremlin formally recognized two breakaway regions in eastern Ukraine. Scholz said Germany would not accept the recognition of the separatist regions in the Donbas region and that German politicians need to reassess the situation “in particular regarding Nord Stream 2,” Reuters reported. Speaking to reporters in Berlin on Tuesday, Scholz said he had asked the economy ministry “to withdraw the report on security of supply with our federal networks agency”, calling this “the first step to make sure the pipeline cannot be certified at this point”.
Other key remarks:
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app- According to Scholz, Germany is considering diversifying its gas imports.
- German Economy Minister Habeck believes that even without Nord Stream 2 Germany gas supplies are secure, however the price is another question.
- European Commission said Germany's decision on Nord Stream 2 will not affect the EU's energy supply.
- According to an EU commission source, EU ambassadors considered a four-part sanctions package against Russia.
NATGAS did not react to the news regarding Nord Stream 2. Price is currently trading around local support at 4.40 which coincides with the upward trendline and 61.8% Fibonacci retracement of the last upward wave. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
