German stakeholder in Nord Stream 1 natural gas pipeline rejects calls to shut it down in response to the Russian invasion of Ukraine
It’s clear that Germany needs the gas from North Stream 1 like it needs a piece of bread in a famine. That being said, North Stream 2 was almost finished which means the money was spent and now it’s a dead multi-billion USD tube in the water. At least North Stream 1 had some time to make some of the money its construction had cost back. But if I was in E.ONs shoes I would not feel too confident. The war in Ukraine seems to become a protracted stalemate and it’s not unlikely that Russia will resort to even harsher measures if only out of frustration. Not good, not good at all.
