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Bogeyman 

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There's a run on camp stoves on Spain's Balearic Islands, while a key energy analyst says there could be gas shortages.

It's all proof that Europe's energy emergency isn't over.

Energy prices soared to the top of the political agenda last month — even being discussed by EU leaders. The reason was an unexpected surge in natural gas prices coupled with sluggish renewable energy production. That saw gas and power prices spike in many countries — causing squeals of outrage from consumers and immediate concern from politicians.

October's price worries subsided when Russia promised to start replenishing its storage systems in Austria and Germany this month.

But now the disquiet is back — and politicians across the Continent are helping fuel a freakout.

Austrian Defense Minister Klaudia Tanner was the first national figure to warn consumers last month that low energy supplies might make the lights go out this winter. Tanner launched a nationwide poster campaign instructing Austrians to prepare for power cuts by keeping 15 days' worth of food on hand.

“The question is not whether a blackout will come, but rather when,” she told the press.

Spain was next, after Algeria shut off one of its two pipelines feeding natural gas to the Iberian Peninsula at the end of October. Algiers says it will fulfill its contracts, and the Spanish government is projecting an aura of calm about gas supplies. Ecological Transition Minister Teresa Ribera insists the country has enough gas reserves to cover at least 40 days’ worth of demand, far more than it should need.

But Madrid's conservative regional president, Isabel Díaz Ayuso, is raising the possibility of blackouts this winter.

"The fear of shortages is real among the people," said Ayuso, a rising star on the Spanish right.

Meanwhile, Catalonia's deputy director for civil protection, Sergio Delgado, recently warned that a power outage was "a real possibility." Although he stressed that authorities were "calm" and fully prepared for any blackouts, he also urged Spaniards to keep an emergency kit with flashlights, a whistle, warm clothes and canned food ready.

Ayuso's statements, and the ensuing media speculation over blackouts, triggered panic buying in Spain, with hardware stores reporting a run on camping stoves, flashlights and canned food. The stockpiling of survivalist supplies has been especially noticeable on the Balearic island of Mallorca, which is home to a large German-speaking population that has been exposed to talk of blackouts coming from both Vienna and Madrid.

In reaction to the frenzied shoppers, Pedro Fresco, the Valencian government's director for the ecological transition, warned people about getting "carried away by conspiracy theories that prey on people's ignorance" and criticized the media for fueling the panic.

Fresco pointed out that the maximum amount of power needed during superstorm Filomena, the snowstorm that buried Spain under mountains of snow last January, was 40,000 megawatts.

"We have 113,000 MW of generation capacity," he tweeted. "Let's not turn this into the run on markets to buy toilet paper: it is highly unlikely that a generalized and lasting blackout can occur in Spain."

But for every authority figure that urges calm, there's another predicting impending doom. This week, Jeremy Weir, CEO of commodity trader Trafigura, warned that current supplies of natural gas aren't enough to power Europe through cold snaps this winter, saying people should prepare for lasting power outages.

“We haven’t got enough gas at the moment, quite frankly. We’re not storing for the winter period,” Weir said at the Financial Times Commodities Asia Summit. “So hence there is a real concern that ... if we have a cold winter, that we could have rolling blackouts in Europe.”

Supply stresses​

There is some reason for worry.

In addition to the shutdown of the Algerian pipeline, there is concern that the U.S. will keep more natural gas for itself rather than export it, adding to pressure on global liquefied natural gas markets.

There's also a lack of certainty about energy supplies from Russia — especially as the U.S. and others warn that the Kremlin may be girding for an expanded war with Ukraine. Last week, Alexander Lukashenko, the authoritarian leader of Belarus, threatened to turn off gas flowing from Russia to Poland on the Yamal pipeline in response to the possibility of expanded EU sanctions against his regime due to the growing migrant crisis on the Polish-Belarusian border.

On Tuesday, the German energy regulator's decision to suspend the Nord Stream 2 pipeline's certification procedure dashed natural gas traders' hopes that the Russia-to-Germany conduit would get its approval in time to help ease a winter supply crunch. Spot natural gas prices exceeded €100 per megawatt-hour on the benchmark Dutch TTF hub on Wednesday — worryingly close to the October record peak of €116 per MWh. On Friday, a December contract traded slightly lower, at €86 per MWh.

It's not all bad news.

Russia has promised to top up Austrian and German storage. Gas flows through the TAP pipeline from Azerbaijan to Italy and Greece have risen, and Norway has boosted exports to Europe to capitalize on high prices.

But even then, James Huckstepp, natural gas analyst at S&P Global Platts, predicted that West European gas storage won’t return to historic levels until November 2022, and will end this winter season drawn down to 15 percent. The low levels could be a problem for the bloc in the event of a prolonged cold snap, EU gas network operator group ENTSO-G warned last month.

Despite that, ENTSO-E, which represents the bloc's electricity network operators, is urging calm.

"Blackouts are extreme and very rare events in Europe," said the group's spokesperson, adding that the last major grid outage in Europe happened nearly two decades ago. Since then, the Continent's grids are better connected, allowing electricity and gas to flow easily between countries.

@Combat-Master @Zafer @Saithan @nakaFH @Yasar @Kartal1 @Cabatli_53 @Nilgiri @TheInsider @Fuzuli NL @Test7 @mulj @T-123456 @Stimpy75 @Stuka

Crazy times are going on in Europe, folks, take care of yourselves.
 

Saithan

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There's a run on camp stoves on Spain's Balearic Islands, while a key energy analyst says there could be gas shortages.

It's all proof that Europe's energy emergency isn't over.

Energy prices soared to the top of the political agenda last month — even being discussed by EU leaders. The reason was an unexpected surge in natural gas prices coupled with sluggish renewable energy production. That saw gas and power prices spike in many countries — causing squeals of outrage from consumers and immediate concern from politicians.

October's price worries subsided when Russia promised to start replenishing its storage systems in Austria and Germany this month.

But now the disquiet is back — and politicians across the Continent are helping fuel a freakout.

Austrian Defense Minister Klaudia Tanner was the first national figure to warn consumers last month that low energy supplies might make the lights go out this winter. Tanner launched a nationwide poster campaign instructing Austrians to prepare for power cuts by keeping 15 days' worth of food on hand.

“The question is not whether a blackout will come, but rather when,” she told the press.

Spain was next, after Algeria shut off one of its two pipelines feeding natural gas to the Iberian Peninsula at the end of October. Algiers says it will fulfill its contracts, and the Spanish government is projecting an aura of calm about gas supplies. Ecological Transition Minister Teresa Ribera insists the country has enough gas reserves to cover at least 40 days’ worth of demand, far more than it should need.

But Madrid's conservative regional president, Isabel Díaz Ayuso, is raising the possibility of blackouts this winter.

"The fear of shortages is real among the people," said Ayuso, a rising star on the Spanish right.

Meanwhile, Catalonia's deputy director for civil protection, Sergio Delgado, recently warned that a power outage was "a real possibility." Although he stressed that authorities were "calm" and fully prepared for any blackouts, he also urged Spaniards to keep an emergency kit with flashlights, a whistle, warm clothes and canned food ready.

Ayuso's statements, and the ensuing media speculation over blackouts, triggered panic buying in Spain, with hardware stores reporting a run on camping stoves, flashlights and canned food. The stockpiling of survivalist supplies has been especially noticeable on the Balearic island of Mallorca, which is home to a large German-speaking population that has been exposed to talk of blackouts coming from both Vienna and Madrid.

In reaction to the frenzied shoppers, Pedro Fresco, the Valencian government's director for the ecological transition, warned people about getting "carried away by conspiracy theories that prey on people's ignorance" and criticized the media for fueling the panic.

Fresco pointed out that the maximum amount of power needed during superstorm Filomena, the snowstorm that buried Spain under mountains of snow last January, was 40,000 megawatts.

"We have 113,000 MW of generation capacity," he tweeted. "Let's not turn this into the run on markets to buy toilet paper: it is highly unlikely that a generalized and lasting blackout can occur in Spain."

But for every authority figure that urges calm, there's another predicting impending doom. This week, Jeremy Weir, CEO of commodity trader Trafigura, warned that current supplies of natural gas aren't enough to power Europe through cold snaps this winter, saying people should prepare for lasting power outages.

“We haven’t got enough gas at the moment, quite frankly. We’re not storing for the winter period,” Weir said at the Financial Times Commodities Asia Summit. “So hence there is a real concern that ... if we have a cold winter, that we could have rolling blackouts in Europe.”

Supply stresses​

There is some reason for worry.

In addition to the shutdown of the Algerian pipeline, there is concern that the U.S. will keep more natural gas for itself rather than export it, adding to pressure on global liquefied natural gas markets.

There's also a lack of certainty about energy supplies from Russia — especially as the U.S. and others warn that the Kremlin may be girding for an expanded war with Ukraine. Last week, Alexander Lukashenko, the authoritarian leader of Belarus, threatened to turn off gas flowing from Russia to Poland on the Yamal pipeline in response to the possibility of expanded EU sanctions against his regime due to the growing migrant crisis on the Polish-Belarusian border.

On Tuesday, the German energy regulator's decision to suspend the Nord Stream 2 pipeline's certification procedure dashed natural gas traders' hopes that the Russia-to-Germany conduit would get its approval in time to help ease a winter supply crunch. Spot natural gas prices exceeded €100 per megawatt-hour on the benchmark Dutch TTF hub on Wednesday — worryingly close to the October record peak of €116 per MWh. On Friday, a December contract traded slightly lower, at €86 per MWh.

It's not all bad news.

Russia has promised to top up Austrian and German storage. Gas flows through the TAP pipeline from Azerbaijan to Italy and Greece have risen, and Norway has boosted exports to Europe to capitalize on high prices.

But even then, James Huckstepp, natural gas analyst at S&P Global Platts, predicted that West European gas storage won’t return to historic levels until November 2022, and will end this winter season drawn down to 15 percent. The low levels could be a problem for the bloc in the event of a prolonged cold snap, EU gas network operator group ENTSO-G warned last month.

Despite that, ENTSO-E, which represents the bloc's electricity network operators, is urging calm.

"Blackouts are extreme and very rare events in Europe," said the group's spokesperson, adding that the last major grid outage in Europe happened nearly two decades ago. Since then, the Continent's grids are better connected, allowing electricity and gas to flow easily between countries.

@Combat-Master @Zafer @Saithan @nakaFH @Yasar @Kartal1 @Cabatli_53 @Nilgiri @TheInsider @Fuzuli NL @Test7 @mulj @T-123456 @Stimpy75 @Stuka

Crazy times are going on in Europe, folks, take care of yourselves.
No worries. EU politicians are too dumb to realize that fossil won’t disppear so quickly. They need to make the necessary investments before cutting down on fossil.

Their biggest mistake is doing all that simultaneously.

Denmark has oil and gas and could provide part of national need.

Germany is pretty dumb imo for not securing alternative to Russian gas.

I’m more worried about Turkey, ppl should think twice before buying too many sqm apartment that needs heating. 80 sqm requires less heating than 150sqm. Of course there are other factors to this.
 

Bogeyman 

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No worries. EU politicians are too dumb to realize that fossil won’t disppear so quickly. They need to make the necessary investments before cutting down on fossil.

Their biggest mistake is doing all that simultaneously.

Denmark has oil and gas and could provide part of national need.

Germany is pretty dumb imo for not securing alternative to Russian gas.

I’m more worried about Turkey, ppl should think twice before buying too many sqm apartment that needs heating. 80 sqm requires less heating than 150sqm. Of course there are other factors to this.
Coal-wood stoves are back.
 

Stimpy75

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I always loved those kömür sobaları, you'll never get the same heat with those sissi gas heating...and you can make tea, roast fındık/kestane while the stove is heating....
 

Anastasius

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Wait, you mean to tell me that hippie BS about wind and solar saving us all from the evil coal and oil was a bunch of nonsense all along?

I'm shocked I tell you, shocked.
 

Dalit

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Not to mention energy prices are going through the roof all over the world.

Europe FULLY depends on external energy sources. That includes the same Russia they want to avoid at Uncle Sam's orders.
 

Saithan

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Karaman is pretty much located in a valley, the smog doesn’t dissipate.
 

mulj

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There's a run on camp stoves on Spain's Balearic Islands, while a key energy analyst says there could be gas shortages.

It's all proof that Europe's energy emergency isn't over.

Energy prices soared to the top of the political agenda last month — even being discussed by EU leaders. The reason was an unexpected surge in natural gas prices coupled with sluggish renewable energy production. That saw gas and power prices spike in many countries — causing squeals of outrage from consumers and immediate concern from politicians.

October's price worries subsided when Russia promised to start replenishing its storage systems in Austria and Germany this month.

But now the disquiet is back — and politicians across the Continent are helping fuel a freakout.

Austrian Defense Minister Klaudia Tanner was the first national figure to warn consumers last month that low energy supplies might make the lights go out this winter. Tanner launched a nationwide poster campaign instructing Austrians to prepare for power cuts by keeping 15 days' worth of food on hand.

“The question is not whether a blackout will come, but rather when,” she told the press.

Spain was next, after Algeria shut off one of its two pipelines feeding natural gas to the Iberian Peninsula at the end of October. Algiers says it will fulfill its contracts, and the Spanish government is projecting an aura of calm about gas supplies. Ecological Transition Minister Teresa Ribera insists the country has enough gas reserves to cover at least 40 days’ worth of demand, far more than it should need.

But Madrid's conservative regional president, Isabel Díaz Ayuso, is raising the possibility of blackouts this winter.

"The fear of shortages is real among the people," said Ayuso, a rising star on the Spanish right.

Meanwhile, Catalonia's deputy director for civil protection, Sergio Delgado, recently warned that a power outage was "a real possibility." Although he stressed that authorities were "calm" and fully prepared for any blackouts, he also urged Spaniards to keep an emergency kit with flashlights, a whistle, warm clothes and canned food ready.

Ayuso's statements, and the ensuing media speculation over blackouts, triggered panic buying in Spain, with hardware stores reporting a run on camping stoves, flashlights and canned food. The stockpiling of survivalist supplies has been especially noticeable on the Balearic island of Mallorca, which is home to a large German-speaking population that has been exposed to talk of blackouts coming from both Vienna and Madrid.

In reaction to the frenzied shoppers, Pedro Fresco, the Valencian government's director for the ecological transition, warned people about getting "carried away by conspiracy theories that prey on people's ignorance" and criticized the media for fueling the panic.

Fresco pointed out that the maximum amount of power needed during superstorm Filomena, the snowstorm that buried Spain under mountains of snow last January, was 40,000 megawatts.

"We have 113,000 MW of generation capacity," he tweeted. "Let's not turn this into the run on markets to buy toilet paper: it is highly unlikely that a generalized and lasting blackout can occur in Spain."

But for every authority figure that urges calm, there's another predicting impending doom. This week, Jeremy Weir, CEO of commodity trader Trafigura, warned that current supplies of natural gas aren't enough to power Europe through cold snaps this winter, saying people should prepare for lasting power outages.

“We haven’t got enough gas at the moment, quite frankly. We’re not storing for the winter period,” Weir said at the Financial Times Commodities Asia Summit. “So hence there is a real concern that ... if we have a cold winter, that we could have rolling blackouts in Europe.”

Supply stresses​

There is some reason for worry.

In addition to the shutdown of the Algerian pipeline, there is concern that the U.S. will keep more natural gas for itself rather than export it, adding to pressure on global liquefied natural gas markets.

There's also a lack of certainty about energy supplies from Russia — especially as the U.S. and others warn that the Kremlin may be girding for an expanded war with Ukraine. Last week, Alexander Lukashenko, the authoritarian leader of Belarus, threatened to turn off gas flowing from Russia to Poland on the Yamal pipeline in response to the possibility of expanded EU sanctions against his regime due to the growing migrant crisis on the Polish-Belarusian border.

On Tuesday, the German energy regulator's decision to suspend the Nord Stream 2 pipeline's certification procedure dashed natural gas traders' hopes that the Russia-to-Germany conduit would get its approval in time to help ease a winter supply crunch. Spot natural gas prices exceeded €100 per megawatt-hour on the benchmark Dutch TTF hub on Wednesday — worryingly close to the October record peak of €116 per MWh. On Friday, a December contract traded slightly lower, at €86 per MWh.

It's not all bad news.

Russia has promised to top up Austrian and German storage. Gas flows through the TAP pipeline from Azerbaijan to Italy and Greece have risen, and Norway has boosted exports to Europe to capitalize on high prices.

But even then, James Huckstepp, natural gas analyst at S&P Global Platts, predicted that West European gas storage won’t return to historic levels until November 2022, and will end this winter season drawn down to 15 percent. The low levels could be a problem for the bloc in the event of a prolonged cold snap, EU gas network operator group ENTSO-G warned last month.

Despite that, ENTSO-E, which represents the bloc's electricity network operators, is urging calm.

"Blackouts are extreme and very rare events in Europe," said the group's spokesperson, adding that the last major grid outage in Europe happened nearly two decades ago. Since then, the Continent's grids are better connected, allowing electricity and gas to flow easily between countries.

@Combat-Master @Zafer @Saithan @nakaFH @Yasar @Kartal1 @Cabatli_53 @Nilgiri @TheInsider @Fuzuli NL @Test7 @mulj @T-123456 @Stimpy75 @Stuka

Crazy times are going on in Europe, folks, take care of yourselves.
it will be worse with this rush towards to the electric cars, so that will add another burden to the current systems, i simply do not see how they will make it balanced
with so many ecological issues raised by EU and woke voters base. it blows mind how they did discarded coal generated power plants when those reached ecological efficiency to the 99 %.
on the gas issue they are trapped between two "evils" russians and muslim states they do not want to empower each of those but eventually they will have to decide if they want to keep this comfortable way of life.
 
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Bogeyman 

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Last edited:

Bogeyman 

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Europe’s Energy Crisis Is About to Get Worse as Winter Arrives​


Energy prices in Europe are repeatedly breaking records even before winter really kicks in, and one of the most damaging cost crunches in history is about to get worse as the temperature starts to drop.

A super price spike in the U.K. last month forced some industrial companies to cut production and seek state aid, a harbinger for what could play out widely in Europe just as it contends with a resurgence of the coronavirus. For governments, it could mean tension with neighboring countries by moving to protect supplies. For households, it could mean being asked to use less energy or even plan for rolling blackouts.

The trouble is that any fix is unlikely to come from the supply side any time soon, with exporters Russia piping only what it has to and Qatar saying it’s producing what it can. The energy industry is instead faced with relying on “demand destruction,” said Fabian Roenningen, an analyst at Rysted Energy.

“We have seen it over the last couple of months already, and in many industries, it will most likely continue and even increase,” he said from Oslo. “It’s just not profitable to operate for a lot of the players in the current market conditions.”

The outlook adds to the sense of foreboding in Europe. The region is back at the epicenter of the pandemic again with Covid-19 cases surging and fears about a new variant identified in South Africa swirling the globe. Restrictions are being tightened in some countries, while household budgets are being squeezed by rampant inflation. On top of that, freezing weather could mean the lights going out. A return to lockdown like in Austria would help curb power demand, though few governments want to do that.

France, Europe’s second biggest economy, is particularly at risk. The possibility of a chill in January and February is causing concern for the nation’s grid operator. Availability at nuclear stations, the workhorse of the French power system, is low after the pandemic delayed the maintenance of some reactors, according to a report on Nov. 22.

Power prices there are near a record as a cold blast creeps into France and is expected to take hold by Monday when workday demand starts to rise.

Last winter, the grid operator appealed to households to use less energy at peak times and activated some demand reduction contracts with manufacturers when things got really tight. The next step would be to reduce voltage across the network and then rolling blackouts of two hours per region as a last resort. All that would come ahead of a presidential election.

“If there’s a deep cold snap and there’s no wind, things could become tight given the lesser availability of nuclear plants and the recent closure of dispatchable generation assets using coal,” said Nicolas Goldberg, a senior manager in charge of energy at Colombus Consulting in Paris. “If it’s getting really cold and there’s no wind, it may become a problem.”

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France is also a key exporter of electricity to neighboring countries, meaning that the effects of a crisis would reverberate in Germany, Spain, Italy and Britain. Maximum demand is expected to be 79.6 gigawatts on Monday, still some way off the record 102 gigawatts from February 2012.

The situation is already so dire this early in the winter season because of a blistering rally in natural gas prices. Stores of the fuel, used to heat homes and to generate electricity, are lower than usual and are being depleted quickly. Analysts have warned that gas stores could drop to zero this winter if cold weather boosts demand.

Rolling blackouts are a possibility, warned Jeremy Weir, chief executive officer of Trafigura Group, a Swiss commodity trading house on Nov. 16.

“If the weather gets cold in Europe there’s not going to be an easy supply solution, it’s going to need a demand solution,” said Adam Lewis, partner at trading house Hartree Partners LP.

On the supply side, what Russia does next will be key. President Vladimir Putin signaled he would help Europe with more supplies to stabilize the market, but while shipments have recovered after a slump at the start of November, they are low compared with last year. How much gas Russia sends to Europe in December remains an even bigger mystery.

The long-awaited start of the Nord Stream 2 pipeline to Germany from Russia would ease the continent’s energy crunch. The project is finished, but has run into regulatory hurdles and it’s unclear when flows will start.


Qatar, the world's biggest exporter of liquefied natural gas, says it’s already producing gas at full capacity. The Gulf nation, which has low production costs thanks to an abundance of easy-to-extract fuel, has ordered six more LNG ships from South Korea on top of four tankers purchased from China in October.

If things get really bad, countries could resort to curbing sales of natural gas to other regions. An even more extreme scenario could see them halt flows of gas and power to one another, sparking political acrimony and hitting economies.

The European Union has what it calls solidarity principles that are supposed to prevent any state blocking exports of power or gas and leaving another member short, especially when it comes to supplies for households.

The solidarity, though, has never been tested in a wide-scale crisis and grid operators say that they’re allowed to stop or alter power flows through inter-country cables if they have security of supply issues. When the nicknamed “Beast from the East” hit at the end of February 2018, it was quite late into the heating season. This year, it’s likely that a less severe weather event could have a similar impact.

“It shows how exposed Europe’s power system is to the volatility in commodity prices,” said Roenningen in Oslo. “In the short term, there’s not a lot that can be done.”
 

HTurk

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I always loved those kömür sobaları, you'll never get the same heat with those sissi gas heating...and you can make tea, roast fındık/kestane while the stove is heating....
I mean, who doesn't love to get a carbon monoxide poisoning while asleep, right!? All your problems disappear like in good ol' days.
 

Bogeyman 

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Gas prices near record highs as Berlin rejects pipeline from Russia​



Gas prices across the UK and Europe are on course to return to record highs after Germany said a controversial pipeline from Russia could not be approved amid deepening tensions on the Ukrainian border.

The German foreign minister, Annalena Baerbock, said the Nord Stream 2 pipeline could not be given the green light in its current form because it did not meet the requirements of EU energy law.

Baerbock added that the escalating tensions on Russia’s border with Ukraine, where the Kremlin has reportedly amassed 100,000 troops, was “also a factor” because Berlin had agreed with the US that the pipeline should not be used as a political weapon in Moscow’s deteriorating relationship with Kyiv.

In response, Europe’s benchmark gas price climbed by around 10% on Monday to a high of €116.75 (£142.56) per megawatt hour (MWh), just shy of the record closing price of €116.78/MWh set in early October, according to market price data from ICIS.

The UK’s gas market price climbed to 296.35p a therm on Monday, just below the record closing price of 298.475p on 5 October, according to ICIS data.

Europe has experienced record high gas prices in recent months owing to a global squeeze on gas supplies. This has been compounded by a slowdown of Russian gas exports to the continent as negotiations over Nord Stream 2 have stalled.

Baerbock’s rejection of the pipeline followed a decision last month to suspend the permission process because the project’s ownership structure failed to comply with the EU’s gas directive.

Tom Marzec-Manser, the head of gas analytics at ICIS, said some energy traders had held out hope that the pipeline would be able to deliver some gas this winter, and had reacted to signs of a further potential delay by driving prices back towards record highs.

Dmitry Peskov, the Kremlin spokesperson, told the Russian news agency Interfax the Nord Stream 2 development company was “working with the regulator and fulfilling all its demands. We just need to be a bit more patient.”

Germany has faced pressure from the US to block Nord Stream 2 over concerns that Russia could use the pipeline as a political weapon. The pipeline runs from Russia to Germany beneath the Baltic Sea, bypassing Ukraine. This could make it easier for Russia to increase its military aggression towards Ukraine without fear of disruption to its gas exports, according to critics of the Kremlin.

US and EU leaders fear a looming attack on Ukraine by Russia, which annexed Crimea in 2014. Kyiv has estimated that about 100,000 Russian troops are now deployed along the Russia-Ukraine border.

October’s record UK gas market highs ignited fears that factories would need to shut this winter to guard agains the financial blow of rocketing costs. The surge in prices is also likely to take its toll on Britain’s struggling energy supply market after the collapse of 24 suppliers in a little over 12 weeks and record hikes in home energy bills.

The European Commission has reportedly put forward a voluntary system for EU countries to buy gas together to form strategic reserves to safeguard against a supply squeeze caused by a global surge in demand and lower exports from Russia.
 

Ecderha

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Gas prices near record highs as Berlin rejects pipeline from Russia​



Gas prices across the UK and Europe are on course to return to record highs after Germany said a controversial pipeline from Russia could not be approved amid deepening tensions on the Ukrainian border.

The German foreign minister, Annalena Baerbock, said the Nord Stream 2 pipeline could not be given the green light in its current form because it did not meet the requirements of EU energy law.

Baerbock added that the escalating tensions on Russia’s border with Ukraine, where the Kremlin has reportedly amassed 100,000 troops, was “also a factor” because Berlin had agreed with the US that the pipeline should not be used as a political weapon in Moscow’s deteriorating relationship with Kyiv.

In response, Europe’s benchmark gas price climbed by around 10% on Monday to a high of €116.75 (£142.56) per megawatt hour (MWh), just shy of the record closing price of €116.78/MWh set in early October, according to market price data from ICIS.

The UK’s gas market price climbed to 296.35p a therm on Monday, just below the record closing price of 298.475p on 5 October, according to ICIS data.

Europe has experienced record high gas prices in recent months owing to a global squeeze on gas supplies. This has been compounded by a slowdown of Russian gas exports to the continent as negotiations over Nord Stream 2 have stalled.

Baerbock’s rejection of the pipeline followed a decision last month to suspend the permission process because the project’s ownership structure failed to comply with the EU’s gas directive.

Tom Marzec-Manser, the head of gas analytics at ICIS, said some energy traders had held out hope that the pipeline would be able to deliver some gas this winter, and had reacted to signs of a further potential delay by driving prices back towards record highs.

Dmitry Peskov, the Kremlin spokesperson, told the Russian news agency Interfax the Nord Stream 2 development company was “working with the regulator and fulfilling all its demands. We just need to be a bit more patient.”

Germany has faced pressure from the US to block Nord Stream 2 over concerns that Russia could use the pipeline as a political weapon. The pipeline runs from Russia to Germany beneath the Baltic Sea, bypassing Ukraine. This could make it easier for Russia to increase its military aggression towards Ukraine without fear of disruption to its gas exports, according to critics of the Kremlin.

US and EU leaders fear a looming attack on Ukraine by Russia, which annexed Crimea in 2014. Kyiv has estimated that about 100,000 Russian troops are now deployed along the Russia-Ukraine border.

October’s record UK gas market highs ignited fears that factories would need to shut this winter to guard agains the financial blow of rocketing costs. The surge in prices is also likely to take its toll on Britain’s struggling energy supply market after the collapse of 24 suppliers in a little over 12 weeks and record hikes in home energy bills.

The European Commission has reportedly put forward a voluntary system for EU countries to buy gas together to form strategic reserves to safeguard against a supply squeeze caused by a global surge in demand and lower exports from Russia.
I just want to share that Nord Stream 2 pipeline was and still is gas pipeline which russia started by it own agenda. It initiated with "Gerhard Schröder"
Germany was and still do NOT need more gas. Why ? There was and still there is old gas pipeline which providing the gas ( and used capacity is 40-50% it have plenty space for more .Why europe will need another pipeline!? Question is already answered Europe do not need other.

Then why russia build Nord Stream 2 pipeline and paying money to people and institution to support this agenda!?
In Europe there were many discussions about over, over, again about "Nord Stream 2 pipeline" Why would Europe need other gas pipeline?
It become clear that "Nord Stream 2 pipeline" is just laundry money or strategic idea of russia which still there is no logical explanation.

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About gas rising up I think it is related about decided and signed agreements on G7 summit about another big decrease of environment pollution.
This mean that there will be NEW taxes or tariffs-> which hitting now gas prices
 

Bogeyman 

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I just want to share that Nord Stream 2 pipeline was and still is gas pipeline which russia started by it own agenda. It initiated with "Gerhard Schröder"
Germany was and still do NOT need more gas. Why ? There was and still there is old gas pipeline which providing the gas ( and used capacity is 40-50% it have plenty space for more .Why europe will need another pipeline!? Question is already answered Europe do not need other.

Then why russia build Nord Stream 2 pipeline and paying money to people and institution to support this agenda!?
In Europe there were many discussions about over, over, again about "Nord Stream 2 pipeline" Why would Europe need other gas pipeline?
It become clear that "Nord Stream 2 pipeline" is just laundry money or strategic idea of russia which still there is no logical explanation.

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


About gas rising up I think it is related about decided and signed agreements on G7 summit about another big decrease of environment pollution.
This mean that there will be NEW taxes or tariffs-> which hitting now gas prices
Except for Nord Stream-2, Russia sends gas to Europe over 3 lines. He stopped the shipment he sent via Ukraine. It is doubtful that shipments through Belarus will continue. Because EU countries want to embargo Belarus. Belarus has announced that it will close the valves if they put an embargo. They also send via Turkish Stream. Apart from that, only Nord Stream-2 remained.

Even the existing alternatives are hardly enough for the EU. If Belarus imposes an embargo, the EU will be unable to produce its own electricity.

The news in the first message of the subject title adequately summarizes the current situation of the EU.
 

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