Record Rise in Europe Natural Gas Prices

Europe is experiencing a record raise due to technical problems at Gazprom. The megawatt hour price of natural gas, which was traded at 84 euros on June 9, increased by 52 percent to 128 euros, reaching a record level today.

Natural gas prices climbed after it was announced that the facility would be closed for at least 3 weeks due to the fire at the Freeport LNG terminal, which continues its operations in the Texas state of the United States. Then, adding that the facility could not be opened before the end of the year, pushed the prices up. The Freeport facility, which has an important role in LNG sent to Europe and Asia, provides 20 percent of the liquefied natural gas produced by the USA. In addition, Russian energy giant Gazprom announced that it would reduce natural gas shipments through the Nord Stream pipeline due to technical problems. Gazprom announced on June 14 that gas shipments via Nord Stream were reduced from 167 million cubic meters to 100 million cubic meters. Yesterday, Gazprom pointed out that some of the technical equipment sent to the German Siemens company for maintenance has not yet returned, and warned that natural gas shipments to Europe via the Nord Stream pipeline will decrease by another 33 percent. You may also be interested in this;

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Russian Natural Gas Giant Gazprom's European Shipments Continue to Decline Gazprom, Russia's largest company and the world's largest natural gas producer, noted that the natural gas shipments it provides to Europe via the Nord Stream pipeline will decrease by another 33 percent due to technical problems. https://ieconomy.io/rus-dogalgaz-devi-gazpromun-avrupa-sevkiyati-azalmaya-devam-ediyor/