The announcement, on July 21, of the agreement between the United States and Germany allowing for the completion of Nord Stream 2 natural gas pipeline project comes at a time when Russia is undertaking a full-scale effort to manipulate the European gas market, deplete European gas storages and send prices skyrocketing. Natural gas prices have spiked to $10.30 per million British thermal units (MMBtu), reaching their highest levels in 13 years—when liquefied natural gas (LNG) availability in Europe was still limited (Ycharts.com, July 21). Gas spot prices at the Dutch Title Transfer Facility rapidly increased to $451 per million cubic meters in July.
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Margarita Assenova: US-Germany Nord Stream 2 agreement — a victory for Russia
(FILES) In this file photo taken on March 26, 2019 a pipe is seen at the construction site of the so-called Nord Stream 2 gas pipeline in Lubmin, northeastern Germany.
