March 21, 2025

Athens News

News in English from Greece

Gas prices in Europe reached a two -year maximum (video)


Today, European gas storage facilities are filled with less than 50% – this is the lowest level in three years.

Moreover, Europe will be enough It is difficult to fill them until the next winter, reports Bloomberg – the prices of natural gas in Europe jumped to the maximum in two years.

The TTF hubs in the Netherlands grew by 4.6%, to 58.7 euros per megavatt-hour (over $ 630 per 1 thousand cubic meters). This is the highest rate since February 2023.

The agency notes – Gas prices for summer are now so high that it is unprofitable to replenish the storage facilitiesand this means that the governments will have to intervene in order to ensure their filling until the next winter.

It is expected that gas consumption in Europe will increase by 17% this month Compared to the same period last year, due to demand from the population and commercial enterprises. In addition, the winter has not yet ended: northwest Europe is preparing for frosts in the coming days.

“The risk of what EU It will enter in the spring with very low gas reserves, has increased over the past few weeks, ”said Global Risk Management, Arne Lomann Rasmussen, chief analyst.

The upcoming summer service season in Norway can also limit gas supply at a time when the market is already tense. Traders closely monitor the influence of US tariffs and possible response measures that They risk making the import of liquefied natural gas more expensive.

The day before, it became known that Ukraine is building up gas imports from the EU against the backdrop of Russian strikes against objects of the gas sector in recent months. In the next heating season, Ukraine will need an import of at least 1 billion cubic meters of gas.

Meanwhile, BB.LV reports that Five European countries paid more than a billion euros for the supply of Russian gas. They bought oil in January, pipeline and liquefied natural gas from Russia for 1.2 billion euros.

These are the largest importers of raw materials from Russia in the European Union- France, Slovakia, Hungary, Belgium and Spain. This is evidenced by Crea (Center for Research on Energy and Clean).

It is specified that The largest buyer of Russian fossil fuel in the EU was France – She imported liquefied natural gas from Russia totaling 377 million euros.

In January, the total volume of LNG imports to France grew by 0.5%. Deliveries from Russia increased by 25% per month and reached the maximum level since January last year. More than a third of the total volume of LNG imports to the republic had to go to Russia.

In second place in the size of the procurement was Hungary – Oil imports amounted to 182 million euros, pipe gas – 173 million euros. Slovakia She took the third line, in January she imported 232 million euros from Russia. More than 60% of its imports were Russian pipeline oil – for 141 million euros.



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