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Domobran7

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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 have to admit that I do not understand why Europe is so keen on destroying itself on the US' globalist plutocrats' account. Relations with Russia, with China, suicidal immigration policy... basically, EU is trying to become USA lite instead of acting as a security lynchpin of Europe.
 

mulj

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They have easy solution in Sahara and Middle East but they are to selfish and afraid of further empowering muslim nations.

If they are true visionaries and clean energy zealots at least couple of dozens solar plants in North Africa would have been built already along the underwater cables.
 

Indos

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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....

Dont forget this one,

1639653659093.png


despite Indonesia is a tropic country but because we have many high mountain so we know how it feels to stay the night at cold temperature with this one

1639653602396.png
 

Knowledgeseeker

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They have easy solution in Sahara and Middle East but they are to selfish and afraid of further empowering muslim nations.

If they are true visionaries and clean energy zealots at least couple of dozens solar plants in North Africa would have been built already along the underwater cables.
Morocco is building solar panels in sahara but not enough even for its domestic use. Easily it could give energy to europe.
 

mulj

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Morocco is building solar panels in sahara but not enough even for its domestic use. Easily it could give energy to europe.


expensive initially but once started to operate best possible clean option, this is what i meant what would suit best in terms of space, efficiency and ecology. with 10-20 facilities like this you would solve all your energy and probably water problems to.
 

Knowledgeseeker

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expensive initially but once started to operate best possible clean option, this is what i meant what would suit best in terms of space, efficiency and ecology. with 10-20 facilities like this you would solve all your energy and probably water problems to.
Morocco had if i remember right a goal of meeting 50% of the domestic consumption in 2030, and 100% of the population in 2050. However it seems like morocco is set to hit the first deadline of 50% in 2024.
 

Ecderha

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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.



"They also send via Turkish Stream"???
To which Europe country is connected "Turkish Stream" that it provide gas to Europe??
 

Xenon54

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Good thing switzerland produces most of its energy need from Hydro and Nuclear power, the fossile fuel make the smalles amount with around 2%.
Dont get blackmailed by foreign powers, produce your own energy, fossile power finances the most vicious goverments of this world.

1639857719272.png
 

Bogeyman 

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The echoes of the Xi-Putin meeting continue. One of the issues that was overlooked was the statement of Yury Ushakov, one of Putin's aides.
What did Ushakov say:

"We agreed to accelerate efforts to establish a new independent trading network that would reduce dependence on the US-led international financial system".

Shortly before that, Biden threatened to remove Russia from the Swift system. As a result of this, Russia's approach to China more in every field will also mean a weakening in the financial world for the USA.
 

Lool

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The echoes of the Xi-Putin meeting continue. One of the issues that was overlooked was the statement of Yury Ushakov, one of Putin's aides.
What did Ushakov say:

"We agreed to accelerate efforts to establish a new independent trading network that would reduce dependence on the US-led international financial system".

Shortly before that, Biden threatened to remove Russia from the Swift system. As a result of this, Russia's approach to China more in every field will also mean a weakening in the financial world for the USA.
Does this mean that as a result of Biden's threat, Putin and Xi Jinping are more set on creating a new trading network?
 

Bogeyman 

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Does this mean that as a result of Biden's threat, Putin and Xi Jinping are more set on creating a new trading network?

The Russians have decided to form a partnership with China to end the petro dollar. An alternative system may be coming to the hegemony of the West, which includes oil and natural gas, including Iran.
China had made an offer to Russia to form a military, political and economic alliance. However, the Russians had refused at first. Now they have accepted China's offer.
 

Anastasius

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Russia has been backed into a corner, they tried to play both sides, now they realize that the West doesn't care about them at all, so they have thrown their lot more or less completely in with China, sink or swim.
 

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