The Kremlin assessed the impact of the launch of Nord Stream 2 on gas prices in Europe

by time news

The early commissioning of the Nord Stream 2 gas pipeline will balance gas prices in Europe, Dmitry Peskov, the press secretary of the Russian President, told reporters.

Earlier on September 15, the cost of October gas futures on the Dutch hub TTF index for the first time in history exceeded $ 850 per thousand cubic meters and reached $ 851.27 by 10.21 Moscow time. Then the growth continued and by 10:47 Moscow time the prices had already jumped up to $ 880 per thousand cubic meters, and by 11:41 Moscow time they also crossed the $ 900 mark.

“Certainly the earliest possible commissioning of Nord Stream 2 will significantly balance the price parameters for natural gas in Europe, including on the spot market. It is obvious. The needs are great, besides, it is not yet clear what the winter will be like. If it gets cold, then of course even more gas will be needed, ”said Peskov.

In addition, the Kremlin spokesman assessed the impact of rising gas prices in Europe on the Russian economy. According to him, fluctuations and sharp jumps in prices cannot reach Russia. “Well, these processes have nothing to do with Russia. Moreover, these spot gas prices also do not affect the prices for pipeline gas. And recipients of pipeline gas in Europe are not subject to this high volatility, because there the price is calculated according to a different formula, ”he said.

Nord Stream 2 is a gas pipeline running from Russia to Germany along the bottom of the Baltic Sea, bypassing the Baltic states and Poland. The gas pipeline’s capacity is estimated at 55 billion cubic meters. meters of gas per year. The implementation of the project was slowed down by the imposition of US sanctions, which drew criticism both in Moscow and in Berlin. The construction of the gas pipeline was fully completed on September 10.

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