July 13, 2024

Head of Bavaria offers solution to gas shortage ahead of approaching winter

A wise strategy to ensure power supplies is necessary. In this regard, there are good reasons to launch the Nord Stream 2 pipeline soon to bring gas prices to a normal level,” Soder said in an interview with Funke Mediengruppe, published on Sunday.

Also on rt.com Winter is coming: European natural gas prices continue to rise as EU grapples with energy crisis

The official noted that “people are expecting a quick solution” to the remaining registration procedures required to launch the pipeline, and European authorities “cannot just stand aside and watch prices growing ahead of the cold winter.”

“We are withdrawing from coal and nuclear power generation, and the lack of resources is becoming more and more severe. Prices grow, and our demand for electricity rises due to digitalization and use of electric vehicles. In this regard, we need stations that generate power from gas,” Soder outlined, adding that Nord Stream 2 “could become a reliable foundation for stable gas supplies to Germany.

Also on rt.com Nord Stream operator appeals German court ruling forcing split of its gas production and pipeline operations

Construction on the pipeline running from Russia to Germany under the Baltic Sea was completed in September. Once fully operational, Nord Stream 2 will be able to deliver up to 55 billion cubic meters of natural gas to Europe annually. Both Germany and the EU are currently desperate for energy, with natural gas prices hitting record highs of nearly $2,000 per 1,000 cubic meters last month.

However, before pumping can start, the pipeline’s operator, Nord Stream 2 AG, has to acquire EU certification. The issue should be settled by January 8, 2022, however, recent media reports suggest it could be stalled until May. EU authorities cannot ban gas pumping via the pipeline, but if it starts before the registration process is completed, Nord Stream 2 AG could face hefty fines.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/539591-bavaria-soder-nord-stream-2-launch/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Speak Your Mind