Early launch of Nord Stream 2 could ‘balance’ EU gas market & stop price surge – Kremlin

The current sharp rise in gas prices in Europe has nothing to do with Russia, but the launch of the newly constructed Nord Stream 2 pipeline may stabilize the energy market, presidential spokesman Dmitry Peskov says.

“Undoubtedly, the early commissioning of Nord Stream 2 will significantly balance the price parameters for natural gas in Europe, including on the physical market; this is obvious,” the official said, commenting on the unprecedented rise in European gas prices over the past 24 hours.

He stressed that given the current low storage volumes of the commodity, Europe is likely to need more gas than it currently receives, and to need it soon.

“The demand for gas is great; besides, it is still unclear what the winter will be like; if it is cold, then, of course, even more gas will be needed,” Peskov stated.

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