German media: gas rates in Europe strike file highs “with no conclude in sight”
Reference News Network noted on Aug. 28 that, according to the German Tv set channel’s web-site noted Aug. 26, problems in excess of the suspension of normal gasoline materials to Russia are driving purely natural gas costs to go on growing. European purely natural fuel futures for September delivery rose about 10% on the afternoon of 26, reaching a history € 343 per megawatt hour.
Gazprom introduced previous 7 days that the Nord Stream pipeline line would be shut for a few days thanks to upkeep perform. This has fueled fears that Russian gasoline supplies, which have been substantially lowered, will be totally cut off if supplies are not restored. However, Gazprom explained that if there are no technological troubles, the preceding degree of provide will be restored after the close of the maintenance.
Now, the pipeline supplies 33 million cubic meters of gas for every day, just 20% of the utmost offer, the report claimed. The motive given by Gazprom to start with is also to carry out the required maintenance function. Gasoline prices in Europe have a lot more than tripled considering the fact that the commencing of the calendar year. Industry experts say there is no conclusion in sight for price increases.
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