Gas prices in Europe increased by 1 percent on the background of the news shift “Northern Flow-2”. According to the ICE Exchange Now the cost of December futures on the TTF Hub in the Netherlands is about 1182 per thousand cubic meters.
The reason for the growth was the information that the start of the gas pipeline may be postponed until March 2022 due to certification problems. Sources in the German government indicated that Gazprom needs to create a subsidiary of the Swiss operator of the NORD STREAM project 2 AG, after which it is possible to transfer her property and law in Germany. Only after that the regulator will be ready to resume the certification process, to then transfer it to the European Commission.
Earlier, Germany suspended the certification of the North Stream-2 gas pipeline. As the Minister of Economy of the German Land Saxony-Anhalt in Germany, Sun Schulza, noted, the decision to suspend the certification of the gas pipeline threatens with industrial losses and price increases.