Reuters: Price of European gas surges as Russia pipeline suffers setbacks
MOSCOW/LONDON (Reuters) - European gas prices surged again on Wednesday after a delay in the approval process for a major new pipeline from Russia, which German government sources said might not now be commissioned until March next year.
Germany's energy regulator suspended the process for getting the Nord Stream 2 pipeline up and running on Tuesday, dimming hopes that it will provide any significant gas supplies to Europe in the crucial winter months.
Delays in the approval process have raised fears that Europe, which gets a third of its gas from Russia, could face power outages due to low supplies.
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WNU Editor: According to reports. The approval for this pipeline will happen around March, 2022.
People are suffering, but the bureaucrats and their political masters have other priorities.
More News On Soaring Natural Gas Prices In Europe
European Gas Price Jumps 8.1% to One-Month High After New Pipeline Delay -- Bloomberg
Gas prices soar as Germany halts Nord Stream 2 approval -- IBTimes
European gas prices surge as Russian pipeline suffers setbacks -- RTE Gas prices in Europe soar past $1000 -- RT
1 comment:
What is different this year than last year?
Are there more people or is it colder? It was colder in Europe in October than past years.
Can you really blame COVID. If you telecommute the office may not have as many expenses due to heating? So there is a savings there, but staying at home you will raise your own home thermometer about 5 degrees during the day. So is it a wash?
Nordstream may provide more natural gas, but part of the reason for the pipeline was to bypass Ukraine.
You would have to look at an increase or a decrease in aggregate demand. Unfortunately, scaremongering can create runs and affect the markets.
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