Nord Stream 2 Launch Will Balance Gas Price Parameters on European Market, Kremlin Says

MOSCOW (Sputnik) - The launch of the Nord Stream 2 gas pipeline will balance the price parameters on the European gas market, Kremlin spokesman Dmitry Peskov said on Wednesday, as gas futures prices keep surging to record highs.

"There is no doubt that the early commissioning of Nord Stream 2 will significantly balance the natural gas price parameters in Europe, including on the physical market, this is obvious. There is a high demand for gas, and it is unclear what winter will be like. If it is cold, then even more gas will be certainly needed", Peskov told reporters.

The statement was made amid European gas prices skyrocketing over the last few days, reaching a new all-time record of $950 per thousand cubic metres.

On 10 September Russian gas giant Gazprom announced that the construction of the Nord Stream 2 pipeline was fully completed, noting that the first gas supplies to the European market could be expected during this heating season. To start commercial deliveries, Nord Stream 2 AG should be certified as an independent pipeline operator.