A quick launch of the Nord Stream 2 pipeline could help calm gas prices in Europe, Kremlin spokesman Dmitry Peskov said on Wednesday as Moscow waits for the necessary permits to start gas supplies through Nord Stream 2, informs Reuters.

Last week, Russian group Gazprom announced the completion of construction work on the Nord Stream 2 gas pipeline, which consists of two separate lines that can transport 55 billion cubic meters of gas annually from Russia to Germany, enough to supply 26 millions of households. However, for the start of deliveries, it is necessary to obtain an operating license from the German Energy Regulatory Authority (Bundesnetzagentur), which has four months to complete the authorization process.

“Undoubtedly, the rapid launch of Nord Stream 2 will significantly balance the price parameters for natural gas in the European market, including the spot market. This is obvious. The demand is high,” Dmitry Peskov told a conference, according to Agerpres.

On Wednesday, spot gas prices at the Dutch TTF hub reached a record high of 79 euros per Megawatt-hour, more than $960 per 1,000 cubic meters, amid low levels of underground storage..

Rising energy prices have brought electricity costs in Europe to the highest level in years and the situation is unlikely to change by the end of the year, which means high bills for winter heating for consumers.

Separately, Gazprom director Alexei Miller announced on Wednesday that gas supplies through the Nord Stream 2 pipeline will not begin on October 1, as Bloomberg previously reported, citing internal sources.

Instead, Russian Deputy Prime Minister Alexander Novak said the Russian Ministry of Energy was preparing a report in the coming days on the possibility of the Rosneft oil group exporting natural gas to Europe via the Nord Stream 2 pipeline.

Currently, Gazprom has exclusivity over Russian natural gas exports through pipelines, but European regulations, the so-called third energy package, require third-party access to pipelines.

Kirill Tachennikov, an analyst at financial corporation Sinara, said it was unclear at this time whether Rosneft’s possible involvement in gas exports via Nord Stream 2 would help Russia increase deliveries on the route. “As for the third energy package, there is no clear EU position on other Russian companies’ access to the new pipeline,” Kirill Tachennikov said.

Peskov said the possibility of Rosneft exporting gas to Europe has been raised repeatedly, but no decision has been made yet.