Energy crisis escalates in Europe as Russian gas stops

Energy crisis escalates in Europe as Russian gas stops
Energy crisis escalates in Europe as Russian gas stops
Russian natural gas shipments to Germany through a major transit pipeline stopped again yesterday morning (Saturday), with the flow of fuel in the opposite direction.
Bloomberg reported that data from the German pipeline operator Gaskid showed that the Malnau plant, which uses supplies from the Yamal-Europe pipeline, stopped transporting gas from Poland to Germany, on Saturday morning. Instead, the station began pumping gas eastward, from Germany to Poland.
After a similar development on Saturday, the Russian oil company “Gazprom” stated that the company’s customers are still getting the required supplies. This was confirmed by companies in Poland and Germany, according to “Bloomberg”. Meanwhile, calculations by the German price comparison portal “Frivox” reported that the prices of heating, electricity and fuel for homes reached an unprecedented level last October.
Frivox said the year’s total energy costs for a typical family of three could, based on last month’s prices, be 4,549 euros, up 35 percent from last year.
“Energy products of all kinds, whether they are electricity, gas or fuel, have reached or even exceeded record levels,” said Torsten Struck, the portal’s energy expert.
Heating oil consumers came at the forefront of customers who suffered from the current development, as the price of this product reached 144 percent last month on an annual basis, while gas prices recorded a 28 percent increase and the costs of gasoline and diesel increased by 38 percent.
Struck expressed his belief that this trend will continue in the medium term, given the rise in global raw material prices and the rise in carbon dioxide prices, noting that electricity prices rose on average by 9.3 percent in the last 12 months. It is noteworthy that the portal uses what is known as the energy cost index to give a picture of the average development of energy prices for the German family, during which it tracks the costs paid for heating, electricity and transportation.
The portal assumes that a typical family consisting of three people annually consumes an average of 20,000 kilowatt-hours of energy for heating and 4,000 kilowatt-hours for electricity and travels 13,300 kilometers by car.
Meanwhile, the Financial Times reported on Friday that the British government has approached Qatar in an effort to reach a long-term gas deal and increase supplies, as a shortage of natural gas in Europe is driving up wholesale prices.
The newspaper quoted informed sources that British ministers and their counterparts from the largest producer of liquefied natural gas in the world held talks on a long-term agreement under which Qatar will become a “supplier of last resort”. The report added that Qatar also changed the route of four large tankers to Britain during the past two weeks.
The report added that Britain is seeking a potential long-term deal in light of concerns about increased competition for LNG supplies with Asia.
Britain’s energy sector is reeling under the weight of rising energy costs. Earlier this week, British energy supplier CNG Energy stopped trading, joining 17 energy suppliers in the country that collapsed since September.

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