Blue fuel in Europe sets a new price record, exceeding the level of $ 800 per thousand cubic meters
Record gas prices in Europe could speed up the issuance of permits for fuel supplies through Russia’s Nord Stream-2 gas pipeline to Germany, analysts said, quoted by Reuters.
Last week, Gazprom announced that it had completed the construction of the pipeline, and the German energy regulator said it had four months (as of September 8) to complete operational certification after receiving all the necessary documents.
In August, the Russian gas holding said Nord Stream 2 could deliver 5.6 billion cubic meters of gas by the end of the year.
The pipeline, which would help Moscow bypass its political enemy Ukraine in transiting gas to European markets, doubles its annual capacity to export gas across the Baltic Sea to 110 billion cubic meters, about half of Russia’s total gas exports to the West. , notes Reuters.
Europe needs this gas, especially given that prices in the region have reached record levels before winter, the agency added.
Earlier today, spot prices at the Dutch hub TTF exceeded 66 euros per MWh or more than $ 800 per 1,000 cubic meters, after which they crossed the $ 810 threshold, amid low levels of underground storage in Europe.
“The German regulator … will probably try to issue all the necessary permits as soon as possible,” said Dmitry Marinchenko, senior director at Fitch.
Alexei Grivach of the National Energy Security Fund, a pro-Kremlin think tank, also said German authorities could speed up the certification process despite opposition from the United States and some European countries.
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