Gas in Europe rises in price against certification of Nord Stream 2 being suspended

–16.11.2021

Spot gas prices in Europe turned to rise on November 16 against the statement of the German regulator Bundesnetzagentur (Federal Network Agency) on the temporary suspension of certification of Nord Stream 2 AG as an independent operator of the Nord Stream 2 gas pipeline. According to the ICE exchange, at 15:00 Moscow time at the Dutch TTF hub, 1000 m3 of gas with delivery in December cost $1,053.36 (against $956.96 the day before).

Marat Samarsky, Advocate of the International Economic Compliance at ART DE LEX, believes that the Bundesnetzagentur release goes about freezing the four-month period until new documents are submitted and the state body conditions are fulfilled. The advocate adds that failure of the Nord Stream 2 operator to comply with the requirement to register a subsidiary on time does not mean that this process may not be resumed later.