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EU will soon pay double for gas – Medvedev — RT Business News

Europeans will soon have to pay €2,000 ($2,200) per thousand cubic meters of natural gas, former Russian president and current Security Council deputy Dmitry Medvedev tweeted on Tuesday. The warning comes after Germany ordered a halt to certification of the Nord Stream 2 gas pipeline.

German Chancellor Olaf Scholz has ordered the certification of the Nord Stream 2 gas pipeline to be stopped. Well, welcome to the new world, in which Europeans will soon be paying €2,000 per thousand cubic meters of gas!,” Medvedev wrote in a half-tongue-in-cheek Twitter post.

Earlier on Tuesday, Chancellor Scholz said the German government was halting the months-long certification process for the Russian-backed Nord Stream 2 gas pipeline project in light of the ongoing standoff between Russia and Ukraine over Donbas regions.

Late Monday, Russia officially recognized the breakaway region’s Donetsk and Lugansk people’s republics, drawing criticism from Western countries and saying Russia was trying to illegally invade Ukraine.

Chancellor Scholz said he had asked the German economy ministry to make sure certification of the pipeline could not take place at this time.

It sounds technical but it is the necessary administrative step so there can be no certification of the pipeline and without this certification Nord Stream 2 cannot start operating,said the Chancellor.

The $12 billion pipeline, majority-owned by Russian energy giant Gazprom, is capable of transporting 55 billion cubic meters of natural gas per year from Russia to Germany. The pipeline could have been the answer to Europe’s current energy crisis and help fill the continent’s gas storage facilities, which had less than 5% gas last week.

However, despite being completed in August last year, the pipeline has since hit the wall of European bureaucracy and has yet to deliver a single cubic meter awaiting certification. The United States and Ukraine, along with several other Eastern European states, have expressed protests against the launch of the pipeline, arguing that it would allow Moscow to exert political influence over the Europe. Until now, Germany had repeatedly insisted on going ahead with the project.

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