Business & Economy

How to solve the gas crisis in Europe?

Economists have announced that the early operation of the “Northern Stream-2” pipeline will help increase gas supplies from Russia to Europe, which will reduce gas prices in Europe.
Ronald Smith, chief analyst at BCS Global Markets, believes that if “Northern Stream-2” is soon allowed to operate, this will lead to an “immediate drop” in gas prices. Europe suffers from a shortage of gas, however, the risks of interruptions in supplies to Europe can be reduced. According to Alexei Grivac, Deputy Director General of the National Fund for Energy Security, the start of gas supplies through the “Northern Stream-2” may improve the situation in the gas market, but only In conjunction with new supply contracts.
The expert says that the operation of the gas pipeline will reduce the prices of blue fuel, but it is difficult to determine the amount or percentage of the reduction, because it depends on a combination of factors.

“The important thing is not the fact that the gas pipeline is in operation, but to what extent Gazprom will be ready to increase supplies after that,” stressed Dmitriy Marinchenko, Director of Natural Resources and Commodities at Fitch.

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p dir=”ltr”>If these conditions are met, the Fitch analyst said, prices are likely to return to normal and fall below $500 per 1,000 cubic metres.
The Federal Network Agency for Regulating the Energy Sector in Germany confirmed, earlier, that the estimates of the completion dates for the issuance of the certification certificate for “Northern Stream 2” have not changed.
Moscow sees encouraging signs that the World Health Organization will adopt the “Sputnik V” vaccine during the first half of 2022, and the head of the German Federal Network Agency, Jochen Homann, had stated at a press conference on December 16 last, that it is not expected that the certification will be completed. In the first half of 2022. The German Federal Agency for Regulating the Energy Sector temporarily suspended the licensing mechanism for the “Northern Stream 2” gas pipeline, justifying this with a legal obstacle, noting that approval of the pipeline “is only possible if the operator” Nord Stream 2 AG is legally registered under German law.
The “Northern Stream 2” project includes laying a gas pipeline about 1,230 km long under the waters of the Baltic Sea, with a capacity of 55 billion cubic meters annually, from the Russian coast to Germany.

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