By Tyler Durden
On Wednesday Russian President Vladimir Putin declared that the Nord Stream 2 pipeline to Germany is fully ready and prepared to start pumping gas exports, amid a continued hold-up in regulatory approval on the German side.
Hailing the completion of the $11 billion natural gas pipeline which the US had long worked to block, Putin told a government meeting which was attended by Gazprom head Alexei Miller, “Iâd like to congratulate Gazprom and your partners in Nord Stream 2 on the completion of work and the creation of this additional large trunk-route and that it is ready for work,” according to Reuters.
Putin announced for the first time the second stretch of the 1,200+km pipeline has been filled with gas, and crucially asserted it’s going online will inevitably reduce gas prices in Europe – which have recently hit record highs –Â including in Ukraine. He said once gas starts flowing, an “immediate” positive impact will be felt on the market.