A jump of 7.6% is recorded in the price of natural gas in Europe, in the wake of the reduction of Russian flows through the Russo-German pipeline Nord Stream 1 to 20% of the total capacity (from 40% previously) as of this morning.
The European Union approved on Tuesday an emergency plan for, in principle, a voluntary reduction in natural gas consumption in its 27 member countries by 15% in view of the energy-difficult winter ahead, however granting the right to exceptions in various states depending on the special conditions and their needs.
The plan will however become mandatory if Russia cuts off gas flows to the EU, creating an energy suffocation.
Ukraine’s state gas company Naftogaz has also called on its bondholders to “immediately” come to an agreement with it to delay payments to them amid Russia’s war of conquest against Ukraine.
The Dutch gas contracta reference point for the European continent, recorded at 11.46 Greek time a rise of 7.549%, to 215.010 euros per megawatt hour.
Earlier the contract had reached up to 12%.
Source: Capital
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