FILE PHOTO: The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, February 26, 2020. REUTERS/Maxim Shemetov/File Photo

In all probability, the controversial climate protection foundation MV will conclude its economic activities for the completion of the Nord Stream 2 gas pipeline with a profit of 5 to 7 million euros. As the foundation announced on Wednesday in Schwerin, all the remaining materials have been sold and the ship used to cover the pipeline has also been sold.

According to the agreements, around 18.5 million euros from the proceeds would go to Nord Stream 2 AG. The rest, in addition to the EUR 20 million foundation money from Nord Stream, can be used for climate protection projects, it said.

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According to the foundation, contractual relationships with suppliers and service providers who worked on the completion of the pipeline have almost completely been wound up. As announced, economic business operations could soon be completely ended.

According to the foundation, transactions for the construction of the pipeline amounting to 165 million euros had been completed in the previous year.

However, the state government does not want to use the money from Russian gas deals in response to the war of aggression against Ukraine and instead wants to make it available for humanitarian purposes. Her goal is to quickly dissolve the foundation and use her own funds to promote climate protection through the state energy agency.

The foundation was set up by the state in early 2021 to promote climate protection and at the same time to actively support the completion of the Russian-German Nord Stream 2 gas pipeline. The main financier of the foundation was the Gazprom subsidiary Nord Stream 2 AG with 20 million euros, the state provided 200,000 euros as a contribution.

Critics speak of a sham foundation in which climate protection was only intended to cover up the actual purpose of completing the gas pipeline while circumventing the threat of US sanctions.