Also, they have one more pipeline left. Which they are also threatening to - guess what? - shut down.
https://www-moscowtimes-ru.translate.goog/2022/09/27/gazprom...
Doesn't make sense for it to be Russia? Or does it now?
However, them being destroyed for now will take a lot of pressure to appease Russia out of German domestic politics, lots of political figures were gearing up for trench warfare on opening NS2, and Russia could have used NS1 as a bargaining chip to get Germany to desert Ukraine. There's good reason to suspect the German electorate might have been quite open to such an arrangement by late winter, and imagine what that would have done to western unity. Why throw away such leverage, especially as you can still blow them up later?
This also takes any plan B involving Russia off the table entirely, meaning that Germany will absolutely have to double down on LNG and renewables and restructure its industry, with obvious consequences for future business opportunities.
And what's good for Putin right now is not having an easy source of income for someone to distribute to his keys to power in exchange for supporting a coup (plus side-benefits like all the people leaping to blame the US).
Frozen Russian assets, AFAIK, for now remain frozen. They could be un-frozen and directed to other owners. There's pretty much zero political risk towards Russia - nobody cares what they think anymore - but there's a problem that the Western legal system isn't really happy with just taking somebody's property because you hate them, and establishing such precedent might not be politically good. But if you have some good reason - e.g. voluntary violation of contracts - then it's different business.
> as a bargaining chip to get Germany to desert Ukraine
Germany didn't really "sert" Ukraine that much. They just recently declared they won't - on the 8th month of war, when Russia is mobilizing its reserves - give Ukraine any tanks because it's too hard for Ukrainians to operate them and it'd take too long to teach them. I mean, they are giving some things, but way below their capabilities and try to slow-walk it a lot. Of course, they could stop completely, but that'd probably be political suicide for whoever is in control. "Work as much as you have to not be fired, but not even a little more" is the strategy here. Would it be ever non-suicidal for German government to openly cave to Russians (with the full knowledge that from now on and forever, they are Russia's bitch)? I don't think so.
> Germany will absolutely have to double down on LNG and renewables and restructure its industry,
They really don't have much choice here, if they're not going the "Russia's bitch" road. The war is not really done, and it's not going well for Putin, so he'll squeeze anything that can be squeezed. He's cashing in (did I mention the mobilization?). There's no long term soft influence plan anymore - there's the fire sale plan now. If Germany does not capitulate - and I don't think Germans are inclined to - Russia will squeeze them and they'd have to find the alternative.
Because they had spend years and huge monetary investments to build it.
That would be one insanely expensive spectacle.
Qui bono?