At the same time, EU countries are struggling to agree on their policy towards Nord Stream 2 – a joint project between Russia’s Gazprom and European energy giants, designed to deliver 55 billion cubic metres of natural gas from Russia per year. The pipeline has been facing sanctions pressure from the US, who wants the project to be shut down.
Gas prices continue to spike in the EU, with a thousand cubic metres of low-emission fuel costing $295 on the Dutch spot market TTF on 2 May. Two days ago, the price crossed the landmark of $286 – a level previously seen in January 2021 amid a notably cold winter in Europe.
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