Cold weather, concerns about probable disruptions to Russian supplies, and delays to the planned Nord Stream 2 pipeline pushed gas prices near record highs recently. Due to an early cold spell and reduced Russian flows, Europe's gas storage levels might approach record lows by the conclusion of the winter heating season, according to Gas Infrastructure Europe statistics. This would leave consumers and businesses with substantially higher costs for a longer period of time than previously anticipated.
Onshore pipeline projects may cost 4 to 6 percent more by the end of 2022 as labor, raw materials and transportation prices surge according to Rystad Energy analysis.
Rystad Energy -- an independent energy research and business intelligence company, released its report Aug. 9, 2021 – says that materials, which account for 30 to 40 percent of the total costs for a pipeline, are expected to increase 2 to 3 percent and may approach $1 million per kilometer in leading pipeline regions such as the United States.