Former Russian president expects gas prices to more than double after the freeze on Nord Stream 2.


Former Russian President Dmitry Medvedev soon saw Europeans rise sharply in natural gas prices after Germany announced a freeze on the Nord Stream 2 pipeline over Moscow’s provocative move in eastern Ukraine on Tuesday. He said he expected to face.

Medvedev, President of Russia and now Vice-Chairman of the Security Council, said: Semi-ironic posts on Twitter After German Chancellor Olaf Scholz ordered the suspension of Nord Stream 2 gas pipeline certification.

“Welcome to the brave new world where Europeans will soon pay € 2,000 per 1,000 cubic meters [35,000 cubic feet] Of natural gas! Medvedev wrote in response to Schortz’s announcement of a certification freeze.

Spot natural gas price Listed The Dutch TTF index was trading at € 83.6 ($ 94.9) per megawatt hour on February 23. That’s about 878 euros ($ 996.6) per 1,000 cubic meters. To achieve Medvedev’s rigorous forecasts, we need to more than double to around € 190 ($ 216) per megawatt hour.

European natural gas prices on the Dutch TTF exchange reached record highs of € 180.7 ($ 205.1) per megawatt hour, or around € 1893 ($ 2,149) per thousand cubic meters on December 21, 2021. Medvejev’s goal may not be just an exaggeration.

In contrast, European Commission Vice-Chairman Margrete Vestager said on Wednesday that he believes the suspension of Nord Stream 2 certification will not affect prices.

“There is no gas in the Nord Stream 2 pipeline. It is the approval of the Nord Stream 2 pipeline that is required to start operation. That is, stopping the approval process does not affect the gas price.” Mr Vestagger said at a press conference.

Epoch Times Photo
The pipes at the landing facility of the “Nord Stream 2” gas pipeline were photographed on February 15, 2022 in Lubmin, Germany. (Michael Sohn, File / AP Photo)

Schortz said Tuesday that certification for the Nord Stream 2 gas pipeline between Germany and Russia is pending. This move took place as Western countries deployed a series of coordinated disciplinary measures in response to the Kremlin’s actions in Ukraine.

Russian President Vladimir Putin declared on Monday the separatist-dominated so-called Lugansk People’s Republic (LPR) and Donetsk People’s Republic (DPR) as “independent” states, putting Russian troops in two regions, on the surface. Issued a decree ordering as a peacekeeper.

Western leaders have dismissed allegations that Russian troops are in Ukraine to help maintain peace, accused Putin of taking territory, and are planning a deeper invasion of Ukraine. I warned. Friendly system.

The Kremlin denied plans for the invasion and instead organized its military action as a measure to protect the Russians living in Ukraine. Putin accused Ukrainian troops and their agents in eastern Ukraine. This is an explosive claim rejected by Western officials and analysts as a promotion to lay the groundwork for a large-scale aggression.

Pro-Russian separatists control parts of Donets’k and Luhansk districts, collectively known as Donbass, and the United Nations said that about 14,000 people, including at least 3,400 civilians, were killed in a fierce conflict. I’m estimating.

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On January 18, 2022, a convoy of Russian armored vehicles will move along the highways of the Crimean Peninsula. (AP photo)

Schortz announced the suspension of Nord Stream 2, which ended in September, but the fact that it has been idle since then until it is certified by Germany and the European Union is a tough cost for Berlin to act in Ukraine. It suggests that we are serious about imposing.

The German government has long resisted the cancellation of controversial pipeline projects, despite pressure from the United States and other European countries to unplug.

Washington has taken security risks for years by allowing Nord Stream 2 to increase its reliance on Russia’s gas supply in Europe and give Moscow the ability to bypass Poland and Ukraine in its gas supply to Western Europe. I have insisted that it will bring.

The Nord Stream 2 pipeline can transport approximately 55 billion cubic meters of natural gas annually from Russia to Germany.

Tom Ojimek

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Tom Ozimek has a broad background in journalism, deposit insurance, marketing and communication, and adult education. The best writing advice he has ever heard is from Roy Peter Clark.



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