MOSCOW, 15 Sep. The rise in gas prices in Europe will affect the situation around the world, can lead to serious consequences in industry and even cause public unrest, the world media believe. A number of publications also note that this situation plays into the hands of Russian Gazprom, since it can calmly wait for the onset of winter, but «the Europeans cannot.»
The expert told when the rise in gas prices in Europe will stop The price of gas in the European futures market on Wednesday for the first time in history exceeded $ 950 per thousand cubic meters and approached $ 960, which corresponded to a jump of more than 20% per day. Later quotes corrected slightly, but daily growth still remains significant, exceeding 10%. Reasons Many media outlets point out that the rise in gas prices is associated with the expectation of a cold winter. Winter in Europe will depend on weather conditions in Greenland, according to CNBC. «The first signs do not indicate a cold winter,» said Bespoke Weather chief meteorologist Brian Laverne.
Putin explained high gas prices in Europe As noted by the British newspaper Financial Times, last winter depleted natural gas storage facilities, and the rate of filling them lagged behind. The publication claims that Russia is sending less gas to Europe. The reasons given are both the Russian Federation's needs to fill its own storage facilities and the suspicion that Moscow is trying to put pressure on European countries, including Germany, in order to obtain approval for the launch of Nord Stream 2. The situation is also complicated by the fact that in recent years Europe has gradually refuses coal-fired power plants. Britain and several other countries are increasingly relying on wind turbines to generate electricity, but the weather has been calm recently. This is also driving up gas demand, and Europe has not received enough liquefied natural gas as Latin America needed it amid the drought, TortoiseEcofin manager Rob Tummel told CNBC. with higher energy costs, while the Financial Times writes that the UK is arguably more vulnerable than the rest of Europe. «We are actually at the end of the pipe — not only physically, but also politically,» said Niall Trimble, an employee of the Energy Contract Company consulting company.
The State Duma sharply responded to Kiev's request to extend the transit of Russian gas Bloomberg agency, in turn, citing analysts, writes that high gas prices can lead to industrial downtime or even cause power outages in developing countries. And the crisis in heavy industry in Europe and Asia may soon spill over into the political and macroeconomic spheres. «In many emerging market economies, even a slight increase in retail prices for fuel or energy can lead to economic hardship and social unrest,» analysts from the Eurasia Group say. Nord Stream 2 A number of media outlets drew attention to the fact that the rise in gas prices in Europe plays into the hands of Russian Gazprom. As noted in the material of the German business publication Wirtschaftswoche, the Russian energy company is «well armed» Germans may get the impression that they will not survive the winter without Nord Stream 2. Gazprom can safely wait for winter. The Europeans cannot, «the article says. At the same time, the Polish portal Biznes Alert fears that the launch of Nord Stream 2, through which gas can be delivered from Russia to Europe, bypassing Ukraine, could lead to a serious Russian-Ukrainian conflict.
The Kremlin commented on the rise in gas prices in EuropeUSA Although the issue of gas prices is most acute now in Europe, the American media already fears that the whole world will have to “pay more to keep warm in winter.” As noted by CNBC, even the United States is now in storage facilities 7.6% below the five-year average. At the same time, Washington exports liquefied natural gas. According to analysts, shipments rose to about 10% of US production, with South Korea as the largest consumer of US LNG, followed by China and Japan, according to government figures. Other buyers include countries such as Brazil, India, Poland, Spain, France and Portugal.
Russia responded to US threats over Nord Stream 2
