Cold winter and gas shortage to influence gas price increase — Fitch

If the weather is cold and there is a physical shortage of gas, gas prices may increase even more, Marinchenko said

MOSCOW, September 28. / TASS /. The prices for gas in Europe which for the first time in history today has exceeded $ 1000 per 1,000 cubic meters, may continue to grow and break new records if the winter is cold and if there is there is a gas shortage, Fitch Senior Director for Natural Resources and Commodities Group Dmitry Marinchenko told TASS on Tuesday.

“The biggest test will be in the winter for both the gas prices and the consumers. If the weather is cold and there is a physical shortage of gas, gas prices may increase even more, Marinchenko said.

The current gas price increase in Europe could be the result of the approaching heating season and winter, Marinchenko notes.

In addition, “the rise in prices reflects the ongoing competition between the European and Asian LNG buyers, the low supplies in European gas storage facilities and insufficient growth in supply from the largest gas suppliers to Europe, primarily Gazprom.”

Earlier today, at the opening of trade, the price of gas in Europe for the first time in history exceeded $1000 per 1,000 cubic meters . After that, the cost of the October futures on the TTF hub in the Netherlands accelerated growth its to $ 1,031.3 per 1,000 cubic meters. The overall rise in gas prices since the beginning of the day exceeded 11%.

Also, earlier today, the gas flow through the Yamal-Europe gas pipeline decreased by 50%. According to the European gas transmission operator Gascade, gas pumping through Yamal – Europe declined by almost 60% compared to the previous day – to 1.45 mln cubic meters per hour with just over 3.4 mln cubic meters per hour.

Gazprom Chairman of the Board Alexei Miller said that an increased demand for gas as well as a strong lag in pumping gas into underground storage facilities in Europe led to the fact that prices in Europe for this fuel have broken records and may exceed their values in the near future.

Internet Explorer Channel Network
News Related

OTHER NEWS

Ethereum: The transformation that could see it overtake bitcoin

The world’s second most valuable cryptocurrency, ether, has been touching all-time highs in price ahead of a major upgrade of its underlying platform, ethereum. Ether is currently worth in aggregate ... Read more »

Russian fitness centers request landlords to reduce rent by 50% by year-end

Fitness restrictions with the use of QR codes were introduced in more than 35 regions at the moment; industry assets are closed in some regions, authors of the address said Read more »

Haryana to provide smartwatches to officials to track attendance

The GPS-enabled wristwatch costs around Rs 7,000- Rs 8,000 and the government agency has to pay for it. Haryana Chief Minister Manohar Lal Khattar announced that state government officials would get ... Read more »

Coronavirus Update | Active COVID-19 cases decline to 1,72,594

Russia on October 21 reported 1,036 coronavirus-related deaths in the last 24 hours as well as 36,339 new infections, both record daily highs. (Image: Reuters) India added 15,906 new COVID-19 ... Read more »

(3rd LD) New virus cases below 2,000 for 15th day as vaccination rate exceeds 70 pct milestone

(ATTN: UPDATES with latest info in 11th para) SEOUL, Oct. 23 (Yonhap) — South Korea saw its new coronavirus cases rise slightly Saturday, but the daily caseload stayed below 2,000 ... Read more »

(2nd LD) New virus cases below 2,000 for 15th day as vaccination rate exceeds 70 pct milestone

(ATTN: UPDATES with vaccination rate in lead para; ADDS info in para 9, new photo; AMENDS headline) SEOUL, Oct. 23 (Yonhap) — South Korea saw its new coronavirus cases rise ... Read more »

(URGENT) S. Korea's vaccination rate exceeds key milestone of 70 pct: KDCA

(END) Read more »

(4th LD) New virus cases below 2,000 for 15th day as vaccination rate exceeds 70 pct milestone

(ATTN: UPDATES with latest info in 11th para) SEOUL, Oct. 23 (Yonhap) — South Korea saw its new coronavirus cases rise slightly Saturday, but the daily caseload stayed below 2,000 ... Read more »

Crypto venue for bets on Trump, JLo and Covid faces US probe

WASHINGTON (BLOOMBERG) – It’s the go-to place for making crypto wagers on whether Donald Trump retakes the White House and Jennifer Lopez and Ben Affleck get engaged. It’s also under ... Read more »

EU climate chief puts off visit to Moscow, will meet with Russian delegation in Glasgow

In mid-September, Timmermans announced at a plenary session in the European Parliament that he was planning to visit Russia for talks on climate change in the run-up to the Glasgow conference Read more »

Tesla data storage contains more info than thought, Dutch researchers say

Photo: Depositphotos.com Investigators at the Dutch forensic institute NFI have succeeded in decrypting the data storage system operated by car maker Tesla, providing additional information that maybe useful to accident ... Read more »

First express train with vegetables, fruits to depart from Tashkent to Moscow in November

Kazakhstan, the country through which the train will travel, also joined the project, Deputy Prime Minister of Uzbekistan Sardor Umurzakov said Read more »

UItra-low interest rates ‘rip off' middle-class savers, Judy Shelton says

Judy Shelton says that “people on pensions” and those with deposits at the bank are “not getting any return.” Tom Williams/CQ Roll Call via AP Images Ultra-low interest rates combined ... Read more »

Uzbekistan, Russia to hold intergovernmental commission's meeting next week

According to Uzbek Deputy Prime Minister Sardor Umurzakov, the meeting will be held "in an absolutely new format," in particular media representatives will be able to attend it "from the beginning to the end" Read more »

China successfully launches satellite to test space debris mitigation technology

China successfully launched a new satellite on Sunday to test and verify space debris mitigation technologies. China successfully launched a new satellite on Sunday to test and verify space debris ... Read more »

Melbourne to ease more COVID curbs as 80% vaccination rate nears

Rank 10 | Melbourne, Australia | Score: 87.3 (Image: Wikimedia Commons) Melbourne, the world’s most locked-down city that emerged from its latest spate of COVID-19 restrictions on Friday, will see ... Read more »

SBI mega e-auction for properties on October 25: Check details

India’s largest lender State Bank of India (SBI) will conduct an electronic auction of mortgage properties for both commercial and residential properties. Bidders can bid for some home, plot or ... Read more »

Twitter and Square CEO Jack Dorsey says 'hyperinflation' will happen soon in the U.S. and the world

Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, ... Read more »

How BioNTech went from a little-known biotech company to creating the Covid vaccine

It was Jan. 24, 2020 when BioNTech CEO Uğur Şahin knew that Covid-19 was likely to become a global pandemic.  Though it was over a month and a half before ... Read more »

Covid vaccine boosters are now available. Here's who's eligible for Pfizer, Moderna and J&J's shots

A patient receives their coronavirus disease (COVID-19) vaccine booster during a Pfizer-BioNTech vaccination clinic in Southfield, Michigan, U.S., September 29, 2021.Emily Elconin | Reuters Nearly 100 million people nationwide are ... Read more »

MC Interview | 10-15% correction if Nifty closes below 17,900: Mazhar Mohammad of Chartviewindia

Mazhar Mohammad, Founder & Chief Market Strategist at Chartviewindia.in feels Bank Nifty is looking very interesting with new highs and a channel breakout which has opened up a higher technical ... Read more »

Moldova staged gas crisis, its debt amounts to $433mln - Gazprom

Spokesman for the Russian gas giant Gazprom Sergei Kupriyanov said that no politics can be seen in the crisis with gas supplies to Moldova, as Gazprom cannot operate at a loss Read more »

Dolfinarium does nothing to ‘protect' sea animals, advertising watchdog rules

Photo: Depositphotos.com Dolphin park Dolfinarium in Harderwijk can no longer use the slogan ‘Discover, Experience and Protect’ in its promotional material,  advertising watchdog Reclame Code Commissie has decided, Animals rights ... Read more »

Double boost for property stocks as China pledges support for homebuyers amid industry slump and Evergrande pays up

Chinese property stocks jumped in one of their best weeks this year after the banking industry regulator pledged to support first-time homebuyers with easier mortgage financing. Concerns about debt defaults ... Read more »

Hong Kong's buyers shrug aside leftover projects in their rush for small, cheaper homes as robust supply spoils them with options

Hong Kong’s weekend home sales were mixed, with buyers piling in after new launches and the smallest flats that require less upfront payments, giving their collective cold shoulder to unsold ... Read more »

Panic-stricken investors drive down Chinese developer Agile's bonds amid rumours about its ability to repay loans

Chinese developer Agile Group Holdings on Friday tried to reassure investors that it has enough money on hand to service debt, including off-balance sheet loans, after rumours drove down its ... Read more »

Why China's slow economic growth is a bigger headache than its energy crunch and Evergrande's debt crisis

China is having an eventful month, marked by power-supply disruptions and the debt crisis of the country’s second-largest property developer, Evergrande. What does this mean for China’s post-pandemic economic recovery? ... Read more »

Evergrande staves off default, paying US$83.5 million of overdue offshore bond coupon before 30-day grace period runs out

China Evergrande Group paid the US$83.5 million interest payment on its offshore bond, just before a 30-day grace period runs out for declaring it in default, as the world’s most ... Read more »

China will set up a property tax pilot plan, taking small steps after years of dithering to tame home prices for common prosperity

China’s legislature will enact a property tax in selected regions across the country, rolling out the pilot plan as part of a wider “common prosperity” programme to enhance housing affordability ... Read more »

Chinese developers' overseas spending spree dries up as Beijing tightens screws to restore order at home

Chinese developers, who were among the most active investors in overseas property markets, have seen their investments slump this year and they are likely to remain depressed for many years, ... Read more »

Sri Lanka seeks $500-million loan from India for fuel purchases amid forex crisis

Petrol and diesel prices differ from state to state depending on the incidence of local taxes. (Representative image) The Sri Lankan government said it is continuing efforts to secure a ... Read more »

COVID-19: Travel rules have changed again - what are they now?

Coronavirus travel rules have been relaxed for those returning to England, allowing fully vaccinated holidaymakers to take cheaper lateral flow tests instead of PCRs. Read more »

Over 102 crore COVID-19 vaccine doses administered in India: Govt

(Image: Reuters) Over 102 crore COVID-19 vaccine doses have so far been administered in the country, including more than 70 lakh doses administered on Saturday, the Union health ministry said. ... Read more »

NBFCs: Reserve Bank to step up vigil with four-layered regulatory framework

Representative image The Reserve Bank of India (RBI) will put in place a four-layered regulatory structure for non-banking financial companies to keep a stricter vigil on the shadow banking sector ... Read more »

COVID-19: Travel rules relaxed as cheaper lateral flow tests replace PCRs from today

The change comes ahead of the half-term holidays and offers a "huge boost to the travel industry", according to the health secretary, Sajid Javid. Read more »

CIDCO to provide water connection to buildings sans OCs in certain pockets of Navi Mumbai int'l airport rehab area

Image Courtesy: Cidco CIDCO, the city planning agency of the Maharashtra government, has decided to provide water connection to buildings that are yet to obtain the Occupancy Certificate (OC) located ... Read more »

PhonePe withdraws petition against BharatPe's Postpe, to file fresh suit

The PhonePe app (Representative image: Twitter/@PhonePe_) Fintech major PhonePe has withdrawn its petition against BharatPe’s Buy Now Pay Later (BNPL) Postpe platform which had alleged violation of PhonePe’s trademark and ... Read more »

Cryptocurrency Prices Today on October 24: Bitcoin slightly falls, Ethereum surges over 2%

Cryptocurrency (Representative image) Cryptocurrency prices continue to be a mix of green and red on October 24. The global cryptocurrency market cap is Rs 191.25 lakh crores, a 1.10 percent ... Read more »

Petrol, diesel prices on October 24: Fuel rates increased for 5th straight day

Petrol and diesel prices differ from state to state depending on the incidence of local taxes. (Representative image) Petrol and diesel prices were increased for the fifth consecutive day to touch ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic