Reuters

Price of European gas surges as Russia pipeline suffers setbacks

European gas prices surged again on Wednesday after a delay in the approval process for a major new pipeline from Russia, which German government sources said might not now be commissioned until March next year. Germany’s energy regulator suspended https://reut.rs/3wUi5Vb the process for getting the Nord Stream 2 pipeline up and running on Tuesday, dimming hopes that it will provide any significant gas supplies to Europe in the crucial winter months. Delays in the approval process have raised fears that Europe, which gets a third of its gas from Russia, could face power outages https://reut.rs/30ABBdC due to low supplies.