E.ON won’t pull out of Russian gas pipeline project
© Sputnik / Dmitrij Leltschuk
Europe’s largest operator of energy networks, E.ON, said on Wednesday it has no plans to withdraw from the Russia-led Nord Stream 2 gas pipeline project. Germany suspended certification of the pipeline after the start of Russia’s military operation in Ukraine.
“We are not considering withdrawing from Nord Stream. This is an asset that cannot be sold. We could give it to the main Russian shareholder for free [Gazprom – Ed.], but this would be unprofitable,” E.ON Chief Executive Leonhard Birnbaum said, adding, “If we abandon our management rights, then we would give the majority shareholder from Russia the right to make decisions alone.”