The natural gas shortage as a result of the war in Ukraine has caused prices to continue to rise in Europe, the natural gas trading platform Title Transfer Facility in Amsterdam reported yesterday.
Yesterday, the price of gas rose by more than 6 percent to approach 316 euros per megawatt, following it remained above 300 euros (300 dollars) for two days.
Gas prices did not rise above this level only in the period immediately following the start of the war in Ukraine in late February, when prices reached their peak at that time at 345 euros.
It is possible that the recent increase in gas prices is related to other, previously announced, disruptions to Russian gas supplies to Europe via the Nord Stream 1 pipeline, according to “Al Almanya”.
Russia said it would halt gas supplies through the Baltic Sea pipeline for three days, starting from August 31.
This has raised fears that gas flows from Russia, which is already severely restricted, might come to a complete halt if deliveries are not resumed following the shutdown.
An economic report showed that European governments have allocated up to 280 billion euros ($278 billion) to fund measures to mitigate the effects of the energy crisis on consumers and companies.
The report, prepared by Bruegel Research Center in the Belgian capital, Brussels, relied on measuring new government allocations since last September to cover everything from support for small businesses in Greece, to direct financial aid to consumers in Belgium.
A portion of the allocation has not yet been spent. And “Bloomberg” agency quoted Giovanni Sgarfati, an analyst at Bruegel, as saying that energy prices will remain high throughout the winter, and governments should act, according to the worst-case scenarios and assuming that high prices continue beyond that, “Governments should work to reduce demand for energy in any case.” possible field.
Wholesale energy prices in Europe have now increased tenfold at this time of year over the past five years, due to a lack of natural gas supplies from Russia.
This seriously damaged economic activity in Europe, at the same time, natural gas prices in Europe continued to rise and reached record levels as the continent suffered its worst energy crisis in decades.
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