German official: Nord Stream 2 project may turn into a "dinosaur" from the past

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A senior environmental official in Germany has warned that the controversial project, the Nord Stream 2 pipeline, may soon become a thing of the past.
According to “German”, Dirk Meissner, head of the Federal Agency for Environmental Protection (UPA) said in a press statement yesterday, “Nord Stream 2 can quickly turn into something like a dinosaur (a thing of the past) among energy projects, because we want to reach Zero emissions by 2045.
The pipeline, which is nearing completion, is scheduled to transport natural gas from Russia to Germany directly.
Messner said the next German government should pursue ambitious climate protection goals.
This comes before the elections scheduled in Germany next month.
In addition, the German Treasury's income in the first six months of this year from rights to carbon dioxide emissions certificates amounted to about 2.4 billion euros ($ 2.9 billion), the Emissions Trading Office reported yesterday.
For comparison, emissions revenue for the whole of last year was €2.7 billion for the year. Revenues for this year are expected to exceed the current record of 3.2 billion euros in 2019.
Power plants and factories, which emit large amounts of greenhouse gases, buy emissions certificates. Additional certificates can be purchased through auctions on energy exchange in Leipzig, where the price has risen in recent months.
Last year, the cost of a tonne of CO2 emissions certification was just under €25. That rose to 33 euros last January and as high as 52 euros by June.
Part of the reason for the rise is the quest to reduce the number of certifications available in order to provide incentives to invest in reducing emissions.
This, along with higher fuel prices, is causing electricity prices to rise, with the wholesale price of electricity now reaching levels not seen since 2008.
Income from selling carbon emissions certificates is part of the emissions trading income, as more money is brought in from the two sectors. transportation and heating.
Since the beginning of the year, 25 euros per ton of carbon dioxide has been charged for liquid fuels, heating oil and gas.
The Ministry of Finance expects income from this source to reach more than 7.4 billion euros this year. This income is set to rise in the future, as the price of carbon dioxide is set to increase to 55 euros per ton by 2025.

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