Published 2 years ago

Gas prices soar 26% after Russia keeps key pipeline closed

Summary by Ground News

Gas prices have soared on concerns over energy supplies after Russia announced it would not reopen its main gas pipeline to Europe. The Dutch month ahead wholesale gas price, a benchmark for Europe, was up as much as 26% on Monday, before falling back slightly. Gazprom scrapped plans to restart pumping limited volumes on Saturday after a maintenance shutdown, blaming a turbine leak. The decision - which European governments say is retaliation for Western sanctions over Russia's war in Ukraine - was inevitably reflected when markets opened for business on Monday morning.

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