The German government is considering the possibility of amending the Foreign Economic Activity Act to prevent the sale and subsequent commissioning of the Nord Stream 2 gas pipeline, Der Spiegel reported.
The publication recalled that the option of selling Nord Stream 2 AG, the operator of “Nord Stream 2“, is being discussed. Its office is located in Zug, so the German authorities practically have no legal leverage to prevent a possible deal. At the same time, it was previously reported that there is already an American investor ready to acquire Nord Stream 2 AG. In the current situation, the German government wants to change the law to have the right to veto the deal.
The construction of “Nord Stream 2“ was completed on September 10, 2021. It was originally planned to be completed by the end of 2019, but due to US sanctions, the work was delayed. The gas pipeline consists of two lines with a total capacity of 55 billion cubic meters per year, which run from the coast of Russia through the Baltic Sea to Germany.
On September 26, 2022, unprecedented destruction was recorded along three lines of the “Nord Stream“ and “Nord Stream 2“ gas pipelines. As a result, only one line of “Nord Stream 2“ survived. The Prosecutor General's Office of the Russian Federation has opened a case for an act of international terrorism following the damage to the gas pipelines. It is currently impossible to determine the timeframe for restoring the functionality of the gas pipelines.