Russia Likely to Seal Nord Stream Pipelines as German Dependence on Russian Gas Has Collapsed

Russia is set to seal up and mothball both Nord Stream 1 (NS1) and Nord Stream 2 (NS2) pipelines that runs from Russia to Germany sources familiar with the plans have told Reuters. Three of the four pipes (each has two) were ruptured by unexplained blasts in September which have been subject to many different theories of who to blame, one of the Nord Stream 2 pipes remains intact. Russia’s invasion of Ukraine had already seen Nord Stream 1 at … Continue reading “Russia Likely to Seal Nord Stream Pipelines as German Dependence on Russian Gas Has Collapsed”

UK Gas Prices Jump 10% After Germany Suspends Nord Stream 2 Certification

Natural gas futures surged in Europe after Germany’s energy regulator temporarily suspended certification of the Nord Stream 2 pipeline. The move followed the Swiss-based project creating a German subsidiary to own and operate the German section of the pipeline. The Bundesnetzagentur said Nord Stream 2, which was set to begin operations this year, failed to organize an operator recognized under German law, sending gas prices higher. “The subsidiary itself must meet the requirements of the Energy Industry Act for an … Continue reading “UK Gas Prices Jump 10% After Germany Suspends Nord Stream 2 Certification”