GAS WILL BE MORE EXPENSIVE Russia: Freezing of Nord Stream 2 will have consequences

SARAJEVO, (Patria) - The Russian Ministry of Foreign Affairs stated that Germany's decision to freeze the certification of the Nord Stream 2 gas pipeline is unacceptable and will cause irreparable damage to their bilateral relations.

It will also lead to an inevitable and rapid increase in gas prices, the ministry warned.

Germany halted Nord Stream 2 last month, which is intended to double Russian gas supplies to Germany, after Russia formally recognized two separatist regions in eastern Ukraine. The pipeline operator from Switzerland, "Nord Stream 2 AG", has not filed for bankruptcy, it was announced.

Shell will no longer participate

The company only laid off employees after the US imposed sanctions on it. The 1230-kilometer pipeline has not started operating pending German certification. However, the approval process was frozen last week due to the escalation of the Ukrainian crisis. 

Several major companies have announced that they will withdraw from their Russian projects, including Shell, which will no longer participate in Nord Stream 2, among other investments.