Germany halts certification process for Nord Stream pipeline and triggers gas price hike

The German Federal Network Agency announced Tuesday the paralysis of the certification process of the Nord Stream 2 pipeline, controlled by the Russian gas giant Gazprom, as advanced by several German media.



The German agency reported that to give the green light to the transport of gas is necessary that the operating company of the pipeline is organized "according to German law".



Without the corresponding certification, the pipeline that transports Russian gas directly to Western Europe through Germany without passing through Ukraine, can not start operating, under penalty of incurring sanctions.

Dutch natural gas futures are up 7.8% today to 87.9 mwhora after climbing 9% yesterday.

IG experts explain that temperatures remain stable in much of the United States, so we will have to keep an eye on the weather in the country to know the demand for gas for heating in the U.S. territory. In addition, we will have to be attentive to the report of national reserves of the IEA on Wednesday, with a market that expects an increase in national reserves.

Finally, the political unrest and migration crisis affecting different countries between Russia and Europe could lead to pipeline stoppages, a situation that could extend over time and above all, create supply problems in certain European regions.