Yahoo Finance Germany considers seizing parts of a Russian gas pipeline to use in an LNG terminal as Europe reels from an energy crisis, report says
Germany wants to repurpose part of the Nord Stream 2 pipeline for an LNG terminal, according to Der Spiegel.
The Russia-owned gas pipeline is not in use after Berlin vowed not to make it operational due to the war in Ukraine.
The potential plans come as Europe faces an energy crisis after Russia began reducing gas supplies.
Germany is reportedly considering seizing parts of the Nord Stream 2 pipeline to allocate for a liquefied natural gas terminal as Europe reels from an energy crisis.
Der Spiegel reported Friday that the economy ministry has discussed expropriating portions of the Russian-owned gas pipeline in German territory, according to Reuters.
The pieces would then be cut off from the rest of the pipeline and repurposed in an LNG terminal on the Baltic Sea. Europe has increasingly turned to LNG imports, especially from the US, as it looks for alternatives to Russian supplies.
Russia's state-run energy giant Gazprom completed construction of the Nord Stream 2 at the end of 2021 but it has yet to be used. Germany vowed not to let it go into operation after Russia invaded Ukraine.
The potential pipeline seizure comes as Europe faces an energy crisis. Russia has slashed gas flows from a separate pipeline, Nord Stream 1, in recent weeks just as European countries build up inventories ahead of the winter season.
Energy storage in Europe is roughly half full, and the EU is worried that a harsh winter coupled with an already frustrated supply chain for energy will lead to shortages.
On Thursday, German Economy Minister Robert Habeck declared the country is now in the "alarm" phase of its gas emergency plan, signaling that businesses and households need to cut down on consumption and that the government foresees long-term risk of supply shortfalls.
International Energy Agency chief Fatih Birol told the Financial Times earlier this week that Europe should prepare for a complete cut-off in Russian gas exports.
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