Consequences of suspension of certification of Nord Stream 2: gas for $1000

The cost of gas exceeded $1000 per 1000 m³, this is due to the news that the certification of Nord Stream 2, which is Russian, has been suspended.

This was reported by ICE (Intercontinental Exchange) data.

At 14 o’clock in Kyiv, the price of gas in the main hub of Europe TTF in the Netherlands rose to $1,051 per 1,000 cubic meters, or 87.9 euros per MWh. The contract rates for December increased by 9.9% per day.

Image: ICE FUTURES

This price increase is due to the suspension of the certification process for Nord Stream 2 AG as the operator of the Nord Stream 2 gas pipeline, which belongs to Russia. This decision was made by the German federal agency.

It is not known how long certification will be suspended, it was supposed to end in May. There is a fear on the market that Russia will begin to artificially reduce gas reserves in European storage facilities.

Earlier it was reported that in the Russian Federation they said that they would not increase gas supplies, until the launch of Nord Stream 2 is approved.