The gas price in Europe is also rising today, as more and more countries are looking for alternatives and limiting their gas consumption.
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On the Dutch futures market – the benchmark for natural gas in Europe – the price for gas rises more than 3 percent to 124 euros per megawatt hour. On Monday, the price had already risen 2.5 percent, and by nearly 50 percent last week.
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Russian state gas company Gazprom announced last week that it would further reduce deliveries to Germany. Since Thursday, only about 40 percent of the normal amount has been supplied via Nord Stream 1, Germany’s most important pipeline for Russian gas.
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Gazprom chief executive Alexei Miller does not think the situation will improve any time soon. According to him, there is currently no solution for the maintenance of the parts that are essential for the functioning of the pipeline.
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Gas supply as a weapon
Due to the throttling of deliveries via the Nord Stream line, countries such as Austria, France and Italy are already receiving less gas in addition to Germany. Several countries, including Germany, believe that Russia is using gas as a weapon with the decision.
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In addition, the TurkStream pipeline, which runs from Russia to Turkey, will be closed completely from June 21 to 28 due to scheduled maintenance. Normally, gas also goes from Turkey to countries such as Bulgaria, Greece and Italy. Those countries may then receive less gas.
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Germany has already announced new emergency measures to ensure gas supplies. Among other things, the German government would like to reduce the use of gas for energy generation and give priority to replenishing storage facilities for the winter. In addition, more coal-fired power stations must be used to make up for the shortfall.
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Now that Moscow is turning the gas tap more and more, more and more countries are taking measures to save gas. For example, Germany and the Netherlands will once again burn more coal to keep the lights on. In this way gas can be saved to prevent shortages in the coming winter.
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