The price on natural gas is rising again – Problems in European governments

It has taken it back to Europe, as from the low of EUR 22.5/MWh it reached yesterday (6.3.2024) to EUR 28. After all, as the newsit wrote a few weeks ago, the price on natural gas last showed clear signs that it finds a “patch” after many months of continuous fall. The main cause of the rise is the concern about the quantities of Russian gas that Europe is still receiving through Ukraine. This land road is the only one left for Russian gas along with the Turkish Turk Stream pipeline, after the shutdown of the Yamal pipeline and Nord Stream pipeline in 2022. Through Ukraine Europe currently receives about 5% of its gas needs. Both Ukrainians and Brussels do not appear willing to renew the contract with Gazprom after its end at the end of this year. The issue is therefore raised, in particular for those countries receiving those quantities, such as Austria. \ The Commission has repeatedly stressed that the world market in LNG remains in a good position to make up for these quantities by sea. At the same time, connections between European countries are considered sufficient to transport the gas from the LNG terminals to the European mainland. Again, however, the price rise threatens the account that the high cost we experienced during the energy crisis is now over. If the increase in TTF is indeed maintained over time, it will also affect the Greek electricity market, leading to higher tariffs for consumers.