Natural gas prices soar again in Europe, delaying pipeline approval

Natural gas prices are rising again in the European market on the 17th. Supply concerns have surfaced when Germany suspended approval procedures for the “Nord Stream 2” pipeline that carries natural gas from Russia on the 16th. According to German government sources, the operation could be in March next year.

 

As Europe imports one-third of its gas from Russia, there is growing concern that reduced supply could lead to power outages this winter.

 

The next month of the Dutch TTF, an indicator of European natural gas prices, rose about 8% to € 101.60 per megawatt hour (MWh), the highest since October 18.

 

The Federal Network Agency (BNetzA) pointed out on the 16th that it is necessary to change the organization of the operating entity in order to grant the business license to Nord Stream 2.

Alexander focuses on breaking news stories and ensuring we offer timely reporting on some of the latest stories released through market wires. He has previously spent over 5 years as a trader in us stock market and is now semi-retired. Now he works for investingbizz.com specializing in quicker moving active shares with a short term view on investment opportunities and trends. He covers financial sector news.

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