Yuri Shafranik says Nord Stream 2 Should Be Launched

New York City NY

11 November, 2021

6:53 AM

Description

Yuri Shafranik says Nord Stream 2 Should Be Launched as Soon as Possible With gas prices still high and a cold winter threatening to send them into orbit, Russian energy expert Yuri Shafranik says Russia and Europe should do everything they can to get Nord Stream 2 up and running as soon as possible. Once the pipeline is functioning, it will pump more gas into Germany and Europe and help bring prices down for consumers across the continent. That’s something that should always be among the top considerations for gas producers. However, even though there appears to be political will to move forward with the approval of the newest pipeline, it could still take until May 2022 before gas begins moving through Nord Stream 2. That would keep gas prices high, which is a problem for consumers and could also intensify concerns and disagreements over political involvement in commodities. Increasing Supply Demand for gas is high, not just across Europe but also around the world and this has partly fuelled the problem of rising gas prices. However, there is a solution within our grasp – increase supply. “The launch of the Nord Stream 2 should be done at all costs,” Yuri Shafranik said in a recent interview. He adds that high gas prices are not in the interest of suppliers. That’s because if prices stay high, consumers will support a faster switch to renewable energy, resulting in fewer customers for that gas supply, translating into lower prices. Of course, the transition to green energy is essential for the environment and is something that everyone should be supportive of. However, there is room for both types of energy and also a need for a long period of hybrid energy usage, and that means gas producers should do everything they can to keep prices affordable. Cleaner Hydrocarbons Entrepreneur and businessman Yuri Shafranik have worked in the energy industry for his whole career. He has seen the transformation in the production of hydrocarbons and believes that by constantly improving the methods by which hydrocarbons are produced, they can become a part of the long-term energy solution, in tandem with renewables. Indeed, events like COP26 and the huge amount of interest in them make it clear that greener energy is an important, indeed, an essential part of our future. However, the development of renewable energy at a scale large enough to power the entire world remains many years off. With that in mind, demand for fossil fuels will remain. This means that producers of those fuels have a responsibility to ensure they’re produced in the cleanest and most efficient manner possible, while also remaining affordable for the end consumer. “[We] still need to get away from emissions, but not so radically that our today’s quite good product, gas, is deliberately relegated to the black list of products,” Yuri Shafranik said. That’s why a combination of improving production methods and increased supply streams is essential right now and will benefit the consumer and the producers.