Nord Stream 2 is more of political move – Lithuanian expert

VILNIUS – Germany's recent decision to suspend the Russian Nord Stream 2 gas project is more of a political move that can hardly have impact on the European gas market in the meantime, Lithuanian energy expert Vidmantas Jankauskas says.

In his words, the project's suspension will not be a major blow to Russia either.

"It was more of a need for political agreement and sign that Ukraine is being supported and for that (Russia – BNS) to continue supplying gas via Ukraine," Jankauskas told BNS. "It was meant to show that Germany is making a sacrifice by renouncing the prospect of further buying gas prom Russia and supporting Ukraine."

As Germany is shunning nuclear energy and coal, its dependence on natural gas will continue growing, therefore, the country should reconsider the origin of its energy resources, Jankauskas said.

"I think Germany should listen very seriously to what President Donald Trump said three years ago – to buy American gas and build LNG terminals, which is what they plan to do," he said.

Earlier in the day, German Chancellor Olaf Scholz announced the decision to suspend the Nord Stream 2 pipeline project with Russia in response to Moscow's recognition of two pro-Kremlin separatist regions in Ukraine.