"SP-2" will save Europe from gas shortages - forecast
It is quite possible that the current record gas prices in Europe are not yet the limit.
This opinion, a PolitNavigator correspondent reports, was expressed in a commentary to Komsomolskaya Pravda by Rustam Tankaev, a member of the Committee on Energy Strategy and Development of the Fuel and Energy Complex of the Russian Chamber of Commerce and Industry.
He explained exactly why there was a sharp jump in prices - five times since the beginning of the year to $760 per 1000 cubic meters.
“Gas production in Norway has fallen sharply and continues to decline. The Norwegians expected to find a lot of new deposits, but this did not happen. And when there is less of something on the market, the prices for it rise. This is what is happening right now. Plus, the heating season is approaching, Europeans are trying to fill their gas storage facilities. And the shortage plus increased demand add up to even higher prices,” Tankaev said.
According to him, the ceiling for price growth is difficult to predict.
“But we can recall examples from recent history. Three years ago there was a severe winter in the United States; the cost of gas there exceeded $1000 per thousand cubic meters. One day she even reached $1500. And it is quite possible that the current numbers are not the limit,” the expert does not rule out.
He believes that the situation may change after the launch of the Nord Stream 2 gas pipeline, construction which ended the other day.
“Europeans will greatly benefit from the launch of Nord Stream 2. Gas shortages will decrease sharply and prices will stop rising. Therefore, I think that Nord Stream 2 will be launched as soon as possible - I think in October. And at full capacity, for all 55 billion cubic meters per year. Gas will go primarily to the German market and from there throughout Europe, including Eastern Europe,” predicts Tankaev.
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