Federation of German Industry defends Nord Stream 2 project

Federation of German Industry defends Nord Stream 2 project

The Federation of German Industry has said it's not bowing to increasing US pressure to drop the Russian-led Nord Stream 2 gas pipeline and buy US liquefied gas instead. The BDI adds it wouldn't make economic sense.

"I have a big problem with a third country interfering in our energy policy," BDI President Dieter Kempf told the German daily Süddeutsche Zeitung.

He added that establishing a link between dropping the project and buying US liquefied gas instead was unacceptable, Deutsche Welle reported.

"German industry needs Nord Stream 2 to enhance energy supply safety," Kempf argued, saying that liquefied gas from the US was not competitive on the German market right now and would simply cost too much.

German business leaders have frequently rejected charges of their country being too dependent on Russian energy. Kempf said Germany was open to diversifying its sources, but added that purchases "would ultimately be determined on economic grounds."

"US liquefied natural gas is coming to Germany — the question is not if, but when," Deputy US Energy Secretary Dan Brouilette told Germany's Bild newspaper in mid-September.

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