German Chancellor Olaf Scholz announced the suspension of the Nord Stream-2 certification after Russia recognized the independence of the Donetsk and Lugansk People's Republics (DPR and LPR). In addition to the announcement of the blocking of the project, Scholz announced a decision on the first package of additional sanctions against Moscow. Against the background of this news, the cost of gas in Europe has started to rise sharply. The current quotes of «blue fuel» are again located near the level of $1,000 per thousand cubic meters. Recall that the Nord Stream-2 gas pipeline was planned to be put into operation at the end of 2019. At the same time, Ukraine, Poland, the Baltic states, as well as many European countries opposed the new supply route. Opponents of this Russian project have repeatedly stated that the gas pipeline is not an economic project, but a geopolitical lever of Russia's influence on Ukraine. However, Russia has repeatedly denied these claims, emphasizing the need for reliable gas supplies to European countries, which the Ukrainian gas transportation system cannot provide. In September 2021, the pipeline was fully completed, after which an application for certification was submitted. However, today Germany still refused the certification process against the background of a sharp deterioration in the geopolitical situation on the border with Ukraine. At the same time, Russia doubts that the European Union will be able to survive without Russian fuel: with such a policy, Europeans will have to pay about 2,000 euros per thousand cubic meters of gas.
QUICK LINKS
Contact Us 
