More than 30 gas tankers carrying a total of more than 5 million cubic meters of gas will flow from the United States to Europe. 15 of them officially designated European ports as destinations. Methods Another 11, already in the Atlantic, indicate that these ships are also sailing to our continent, according to the Bloomberg Gateway, based on data it has collected.
Bloomberg: A gas tanker fleet from the US to Europe
Help may seem a little late, but it pays off in the gas market. After this information first appeared (this was the evening of December 22nd) the prices Gas fell on the European Stock Exchange by 20 percent. Today, Friday, December 24, the decline was almost strong and exceeded 18%. Strong price dips can be clearly seen in the chart below:
Natural gas futures prices in Europe. Source: www.theice.com
The energy crisis that has been going on for several weeks has caused an increase in electricity prices in the wholesale markets in Europe and translated into higher prices for consumers, which the authorities of different countries are trying to mitigate through various aid packages (in our Poland – it is called an anti-inflation shield). It is also a serious problem for the industry. A steel plant in France, belonging to the world’s second largest zinc producer, stopped production in early January due to rising electricity costs. There are more examples, and plants in Poland also have problems, as reported by Wysokienapecie.pl:
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The energy crisis began when the demand for raw materials, including energy, grew sharply in the post-pandemic economic recovery period. During this time, the supply did not fundamentally change, which led to an increase in prices. Demand was particularly strong from Asia, which was willing to pay more for gas than Europe. It happened before winter, when energy needs are greatest anyway. Gas prices were also fueled by the fact that some countries were partially switching from more expensive coal to gas. Sometimes, unfavorable weather conditions (like the low winds in Germany) added to it all. In recent days, the operation of several nuclear reactors in France has been suspended – the shutdown was planned, for routine inspections, but was extended, because irregularities were detected.
Vladimir Putin: Nord Stream 2 will reduce gas prices
Added to these reasons is another reason related to global politics. Experts note the role RussiaWhich does not provide additional volumes of gas, transportation through the Yamal pipeline is suspended from time to time.
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Friday, December 24, President of the Republic Russia Vladimir Putin (quoted by RIA) said that the start-up of the newly built Nord Stream 2 gas pipeline from Russia to Germany at the bottom of the Baltic Sea will lower gas prices. The gas pipeline is awaiting necessary approvals from regulators in Germany and the European Union.
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