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Natural gas prices in the European market temporarily rose by more than 10% due to supply concerns
Natural gas prices in the European market temporarily fell due
to supply concerns after Russia’s state-owned gas company Gazprom announced it
would suspend natural gas supply through a major pipeline to Germany from the
end of this month, increased over 10%.
Gazprom said on the August 19, that it will suspend the
supply of natural gas from the Nord Stream pipeline to Germany for three days
from the 31st of this month to the 2nd day of next month
due to the inspection of the equipment on the Russian side.
In response to this, in the European market on august 22,
the price of natural gas called “Dutch TTF” temporarily increased by more than
10% from last weekend’s closing price to about 290 euros per MWh.
This is nearly seven times higher than the same period last year.
Nord Stream’s supply of natural gas was halted last month
for routine inspections and then resumed but is still at about 20% of its
normal capacity, suggesting the market is unlikely to be out of supply for a
long period of time.
It is also pointed out that if the price of natural gas
continues to rise, it may further accelerate inflation in European countries.
Source: https://www3.nhk.or.jp/news/html/20220823/k10013783291000.html
