Kremlin: Nord Stream 2 unveiling to balance gas price limits on European market

The introduction of the Nord Stream 2 gas pipeline will balance the price limits on the European gas market, Kremlin spokesman Dmitry Peskov stated, as gas future prices hang onto rising to record highs.

Prior, Russian gas giant Gazprom publicized that the building of the Nord Stream 2 pipeline was completed, noting that first gas supplies to the European market could be probable during this heating season. To start commercial deliveries, Nord Stream 2 AG should be certified as an independent pipeline operator.

“There is no doubt that early commissioning of the Nord Stream 2 will significantly balance the natural gas price parameters in Europe, including on the physical market, this is obvious. There is a high demand for gas, and it is unclear what the winter will be like. If it is cold, then even more gas will be certainly needed,” Peskov told reporters.