Russia: Gas Prices in Europe Soaring Due to Ban on Nord Stream 2
The freeze of the Nord Stream 2 pipeline has led to the current surge in gas prices on the European market and Moscow regrets the "politicisation" of this economic project, a senior official in the Russian Foreign Ministry, Dmitry Birichevsky, said.
In response to Russia’s special military operation in Ukraine, Western countries have imposed a range of new sanctions against Moscow. In particular, Germany ceased the certification of the Nord Stream 2 pipeline.
“We are already observing the effects of abandoning Nord Stream 2 in the form of skyrocketing gas prices on the European market,” Birichevsky stated.
He noted that the “timely commissioning of this gas pipeline would have served the interests of both Russia and Europe”.
“At the same time, it became hostage to the artificial alignment with other political developments,” the official added.
Nord Stream 2 is a new gas pipeline with a carrying capacity of 55 billion cubic meters per year, enabling gas transit from the Russian coast across the Baltic Sea to Germany. Until recently, the project has gone through a drawn-out certification process with the German regulator. The US, promoting its liquefied natural gas to Europe, alongside Ukraine have actively opposed the project, while Russia has urged to curb any politicisation of the Nord Stream 2 launch, arguing that such a commercial project is beneficial to both Russia and the EU.
A senior US official has stated the controversial Nord Stream 2 pipeline that was halted over Russia’s invasion of Ukraine is “now dead”.
“It is a hunk of metal at the bottom of the sea,” Under Secretary of State for Political Affairs Victoria Nuland told US legislators, adding, “I don’t think it will ever be revived.”
