Energy Nord Stream 2 21 June, 2017 9:00 am   
Editorial staff

German surprise in Nord Stream 2 case

Breugel think tank analyst Georg Zachmann states that Nord Stream 2 defence from Austria and Germany is “a surprise”. Austrian Chancellor and German minister for foreign affairs condemned U.S. Senate proposal of new sanctions against Russia, including the ones against controversial project Nord Stream 2.

I have a less benign view on senates motives like domestic policy of LNG exports and means like territorial overreach. But I also think Nord Stream 2 is not good for European Union and Ukraine – wrote Georg Zachmann, expert from Breugel think tank, on Twitter.

The language of the German and Austrian rebuttal which focuses on defending Nord Stream 2 and not on rejecting extraterritorial sanctions per se is surprising – states Zachmann, who is responsible for many analyses concerning this controversial project.

Georg Zachmann argues that the Nord Stream 2 project is a danger to the European consensus on relations with Russia. What is more, it could undermine efforts to diversify Europe’s gas supply and might risk higher prices for Eastern Europe.

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