“Get ready to pay 2 euros per cubic meter for gas”. The Russians did not take the suspension of Nord Stream 2 well
The news of the interruption in the homologation process of Nord Stream 2 by Germany did not go smoothly, on the contrary it provoked a ferocious reaction from the Russian management. Here is what the vice president of the Security Council and former president of Russia, Dimitri Medvediev said
German Chancellor Olaf Scholz has issued an order to halt the process of certifying the Nord Stream 2 gas pipeline. Well. Welcome to the brave new world where Europeans are very soon going to pay € 2.000 for 1.000 cubic meters of natural gas!
– Dmitry Medvedev (@MedvedevRussiaE) February 22, 2022
German Chancellor Olaf Scholz has issued an order to stop the certification process of the Nord Stream 2 pipeline. Good. Welcome to the “Brave new world” where Europeans will very soon pay 2,000 euros for 1,000 cubic meters of natural gas!
They are 2 euros per cubic meter wholesale, little more than what was paid at the peak of the recent crisis, and which, fortunately, was then reduced.
This is DOUBLE the already very high price we are paying now. Eight times the December 2020 price
Can Russia implement this threat? The answer is yes
Still in 2021, imports from Russia amounted to 43%. We can delude ourselves that we are heading towards the good season as the weather, but it is an illusion: in the summer we will have to fill the reserves for the winter and with what gas we will fill them.
Germany has never even built a regasifier to introduce liquefied natural gas into its system. How do you think you will be able to refuel with gas is now a big mystery. Italy can increase domestic production a little, but if this is the threat, we should move immediately. Norway can speed up production, but by how much? Thinking of building a complex connected plant as a regasification plant in a few months is science fiction.
Germany had to close the still active nuclear plants. At this point I better think about it. The closure of two other plants at the end of the year should also be reviewed. France could speed up maintenance on its plants. Palliatives anyway.
Gazprom has invested 10 billion to create Nord Stream 2. It will at least want to be repaid…
We see our foreign ministers and rulers inventing themselves.
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The article "Get ready to pay for gas 2 euros per cubic meter". The Russians did not take well the suspension of Nord Stream 2 comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/preparatevi-a-pagare-il-gas-2-euro-al-mq-i-russi-non-hanno-preso-bene-la-sospensione-di-nord-stream-2/ on Tue, 22 Feb 2022 15:33:46 +0000.