A landing station for the Baltic Sea pipeline Nord Stream 2 in Lubmin, Germany
CNBC: European gas prices surge as Russian pipeline maintenance fuels fears of a total shutdown
* The unscheduled maintenance works on the Nord Stream 1 pipeline, which runs from Russia to Germany via the Baltic Sea, deepens a gas dispute between Russia and the European Union.
* Gas flows via the Nord Stream 1 pipeline will be suspended for the three-day period from Aug. 31 to Sept. 2.
* Holger Schmieding, chief economist at Berenberg Bank, said Gazprom’s announcement was an apparent attempt to exploit Europe’s dependence on Russian gas.
European natural gas prices surged on Monday after Russia’s state-owned energy giant Gazprom said it would shut down Europe’s single biggest piece of gas infrastructure for three days from the end of the month.
The unscheduled maintenance works on the Nord Stream 1 pipeline, which runs from Russia to Germany via the Baltic Sea, deepen a gas dispute between Russia and the European Union and exacerbate both the risk of a recession and a winter shortage.
Read more ....
WNU Editor: More evidence that Europe is going to face a bleak winter when it comes to energy supplies and prices. And as for Europe's economy, more depressing news .... Citi Issues Apocalyptic Warning About UK Inflation; German Central Bank Fears Further Surge In Prices (Zero Hedge).
European Gas Prices Surge After Latest Russian Announcement That Nord Stream 1 Pipeline To Be Shut Down For 3 Days For Repairs
Europe energy jumps as latest Russian gas cut plan stokes fear (Bloomberg)
Gas prices in Europe surge again over concerns about Russian supply cuts (Financial Times)
Europe Gas Surges 20% as Latest Russia Move Deepens Supply Fears (Bloomberg)
Pain in Europe worsens with natural-gas prices up nearly 20% as Russia readies to shut down vital pipeline again (Market Watch)
No comments:
Post a Comment