German companies stated “North Stream-2” indispensable to Germany

more than a third of the surveyed German companies operating in Russia believe that the North Stream-2 gas pipeline is indispensable for the German economy. This is stated in the study of the Russian-German Foreign Trade Chamber (VTP).

About 60 percent called the project an important contribution to the EU power security. About 97 percent expect that German authorities will take an unambiguous position regarding the gas pipeline and achieve its completion of its construction. About 33 percent believe that the “Northern Stream-2” is indispensable to ensure power supply.

Another 7 percent are confident that there is no need for a gas pipeline due to the transition of Germany for renewable sources. Also, 60 percent of German companies made a gradual abolition of European sanctions against Russia, and 33 – for the immediate removal.

Almost half of German companies (47 percent), working in Russia, are planning to invest in the country in the next 12 months. The total investment may be 840 million euros. According to Bundesbank, the net volume of direct investment from Germany to Russia for the first quarter of 2021 was about 1.1 billion euros.

/Media reports.