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European natural gas prices soar, Germany suspends approval of “North Stream 2” raises supply concerns | Europe_Sina Finance_Sina.com

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Original title: European natural gas prices soared, Germany suspended approval of “Beixi 2”, cited supply concerns Source: Reference News Network

Reference News Network reported on November 18, according to Reuters Moscow/London reported on November 17, European natural gas prices soared again on Wednesday because the approval process for a major new pipeline from Russia was postponed. A source in the German government said that the pipeline It may not be put into use until March next year.

According to reports, the German energy regulator suspended the approval process for the Beixi No. 2 natural gas pipeline on Tuesday, making hopes that the pipeline will supply large amounts of natural gas to Europe during the critical winter season become slim.

The report pointed out that the delay in the approval process has aroused people’s concern that Europe may face power outages due to insufficient supply. One third of Europe’s natural gas supply comes from Russia.

According to reports, Beixi 2 faces strong opposition from the United States and some European countries, who said it will make Europe too dependent on Russia for natural gas.

But other European governments have stated that this new pipeline is essential to ensure energy supply at a time when price increases have pushed up inflation.

“I expect the launch of Beixi 2 may be postponed to March 2022,” a German government official told Reuters.

The German-Eastern Business Association expressed its belief in the independence of the regulator, but regretted that the decision would cause delays. The association added that the Beixi No. 2 project “is completely legally tenable and can reliably and safely deliver energy to Europe,” which is in the interest of European natural gas customers and pipeline operators.

According to reports, the Kremlin first commented after learning of the delay that certification is a “complex process” and it does not believe that the decision is driven by political factors.

Interfax News Agency quoted Russian Foreign Ministry spokesperson Zakharova as saying that Russia expects that the deadline for the certification process will not change.

  

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