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Russia says Nord Stream 2 to rein in Europe gas prices


A road sign directs traffic towards the Nord Stream 2 gas line landfall facility entrance in Lubmin September 10, 2020. — Reuters pic
A road sign directs traffic towards the Nord Stream 2 gas line landfall facility entrance in Lubmin September 10, 2020. — Reuters pic

MOSCOW, Sept 15 — The Kremlin said today that a speedy launch of operations at its Nord Stream 2 pipeline to Germany — seen by opponents as a geopolitical tool — would help combat surging gas prices in Europe.

Critics have accused Moscow of intentionally limiting gas supplies to Europe in an effort to hasten the launch of Nord Stream 2.

The pipeline is expected to double gas supplies from Russia to Germany but critics say it could be leveraged by Moscow in geopolitical disputes.

“Without a doubt, the fastest possible commissioning of Nord Stream 2 will significantly balance price parameters for natural gas in Europe,” Kremlin spokesman Dmitry Peskov told reporters. 

In analysis published yesterday, Goldman Sachs said the “record-high” gas prices were the result of “exceptionally low” storage levels as well as forecasts of a cold winter.

Russia has fulfilled its export orders but not supplied surpluses, saying a fire at a processing plant operated by energy giant Gazprom was slowing shipments.

Completed on September 10, Nord Stream 2 is now waiting for a green light from Germany’s regulator to start deliveries. — AFP



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