European gas surges on plugged Russian supply

In the midst of an energy crisis, absent Russian natural gas has prices soaring.
Photo: AP/Charles Rex Arbogast
Photo: AP/Charles Rex Arbogast
BY MARKETWIRE, TRANSLATED BY DANIEL FRANK CHRISTENSEN

European natural gas prices rise dramatically Tuesday to levels not seen since October. This occurs after Germany's Mallnow station, which receives Russian gas, informs that the fuel volume of the Yamal-Europa pipeline is reduced to nothing Tuesday, reports Bloomberg News.

The message from network operator and Mallnow station manager Gascade has European natural gas prices jumping by 5.5 percent on Tuesday.

This lack of Russian gas takes place in an already pressured energy crisis, now strained further by cold temperatures and thereby higher demand as the fuel is used to heat homes.

Russian President Vladimir Putin has previously threatened to close the nation's gas transmitted via, among others, the Yamal-Europa pipeline in the hope of pressuring the continent's nations to approve commission the newly completely and much-discussed pipeline Nord Stream 2.

Several western countries including the US have tried to thwart such approval based on concerns that Russia will use Nord Stream 2 as political leverage to support the Kremlin's interests in Ukraine.

Yamal-Europa, which passes through Belarus and Poland, supplies Germany with Russian gas.

Russia supplies other parts of Europe with via other pipelines.

Germany is closing half of its reactors at worst possible time 

Global coal demand could hit historic peak in 2022

EU Commission launches roadmap for European hydrogen market 

EU gas soars to record as crunch risks spilling into next winter 

 

Share article

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

On June 1, Senvion's former CFO Manav Sharma started as US country manager for Nordex. Soon he will have a new factory at his disposal. | Foto: Senvion

Nordex restarts production in the US

For subscribers

Further reading