EnergyWatch

German power giant warns of possible Nord Stream 2 collapse

The probability of gas pipeline project Nord Stream 2 not reaching completion has increased following US pressure, and Germany's Uniper warns of possible consequential impairments.

Uniper CEO Andreas Schierenbeck. | Photo: Thilo Schmuelgen/Reuters/Ritzau Scanpix

Last month, Russian pipeline-laying ship Fortuna raised anchor from Germany's Port of Mukran on the island of Rügen and began to sail toward Danish waters, where the country's authorities had just issued a permit to continue work on the contentious gas pipeline, Nord Stream 2, between Russia and Germany.

However, whereas the Baltic is reportedly tranquil amid the late summer heat wave, a storm is brewing across the Atlantic, where fierce political opposition paired with economic sanctions put the project at risk of capsizing.

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