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Europe can get Russian gas through Nord Stream 2

President Vladimir Putin says that Russia is not to blame for the energy crisis in Europe. Gas can once again flow through Nord Stream 2.

According to the Russian president, the current energy situation in Europe is due to its green agenda. Europe’s drive to become as green as possible regardless of the economic consequences is something that has been causing debate among experts for some time.

Gas may flow through Nord Stream 2

Vladimir Putin has said that if the European Union wants more gas, it should lift sanctions preventing the opening of the Nord Stream 2 pipeline.

Like Nord Stream 1, Nord Stream 2 runs along the bottom of the Baltic Sea. It was built a year ago, but after the start of the Russian invasion of Ukraine, Germany decided not to launch it.

Nord stream 2 gas pipeline under water

Speaking to reporters, Putin said.

“The bottom line is that if you have the urge, if it’s so hard for you, just lift the sanctions on Nord Stream 2, which is 55 billion cubic meters of gas a year, just push the button and everything will start.”

Gas prices are rising significantly

Gas prices in Europe have been rising significantly since the beginning of the year. Europe wants to resort to capping Russian gas for example, which Hungary is against.

This year’s price spike has squeezed already struggling consumers and forced some industries to halt production. For example, Uniper, the German importer of Russian gas, has experienced a major problem and had to ask the German government for a bailout.

Read also: EC to limit revenues of electricity producers

According to several European politicians, Russia is using its gas as a weapon and as a means of solving its political affairs. Russia has previously stopped supplies to Latvia, Bulgaria, Poland and other countries, for example. This was primarily because these countries refused to pay for Russian gas in the rubles.

Another issue is the Russian shutdown of the Nord Stream 1 gas pipeline due to the constant need for repairs and maintenance. Here we have seen problems with turbines and force majeure.

Nord Stream 1 remained closed this month because a turbine in the compressor station leaked engine oil.

Bruno is an Investment enthusiast with several years of experience in the industry. He enjoys following the latest news and technology trends...

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