Fear of Gazprom delivery stop |
Gas price soars to record high
The fear of a lack of gas deliveries from Russia is driving the gas price up!
The European natural gas future for delivery in September rose by around ten percent on Friday afternoon to a record high of 343 euros per megawatt hour!
The Russian exporter Gazprom announced last week that it would interrupt gas deliveries via the Nord Stream 1 Baltic Sea pipeline from August 31 for three days due to maintenance work. This fueled fears that the gas flow from Russia, which had already been severely restricted, could stop completely if deliveries were not resumed.
However, Gazprom itself had stated that operations should be resumed at the previous level after the maintenance if there were no technical problems. Currently, the pipeline is only 20 percent utilized with a gas flow of 33 million cubic meters per day. Kremlin ruler and warmonger Vladimir Putin (69) had deliveries throttled again and again. Gazprom also cited maintenance work as a reason.
In truth, however, the Russians are delaying with pretend justifications, refusing to accept a turbine that is available from Siemens Energy in Germany, and pointing to alleged legal obstacles. Propaganda lies to put pressure on Germany with shortage of supplies.
Gas prices in Europe have more than tripled since the beginning of the year. According to experts, there is still no end in sight. In October, gas prices are likely to jump up again when many suppliers in Germany raise the gas levy for the first time, said Commerzbank economist Christoph Weil. Electricity prices have also risen to a record high on the stock exchanges.