Supplies of natural gas to Europe via the completed Nord Stream 2 pipeline will not start on October 1, according to the CEO of Russian energy major Gazprom, Alexey Miller.
Responding to media reports on Wednesday suggesting that deliveries via the pipeline could begin next month, he said: “No. Supplies will not start on October 1.”
Gasflow via Nord Stream 2 were expected to begin as early as October, with volumes exceeding expectations. Russia’s Gazprom said it is ready to begin gas deliveries once the new pipeline obtains the required EU certification. However, this process could take up to four months under EU rules.
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The certification delay has sent European natural gas prices to record highs, exceeding $960 per 1,000 cubic meters as of Wednesday.
The European market is severely short of supplies due to increased demand amid the post-pandemic recovery and a drop in deliveries from its key supply source, Norway’s Troll gas field, due to unplanned outages. A recent accident at the Gazprom plant in Russia has also forced the company to cut its supply to European underground storage facilities.
According to Gazprom’s statement last week, gas supplies via the Nord Stream 2 pipeline could total 5.6 billion cubic meters this year, if the EU gives the green light.
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