The gas price has risen further today. The tension between Russia and Ukraine is making traders nervous. They are closely monitoring the build-up of Russian troops on the border with Ukraine. A conflict in the area would put a lot of pressure on the supply of gas to Europe.
The price for a megawatt hour of gas on the leading Dutch gas exchange rose to 122.92 euros. That is almost 6 percent more than yesterday, when the gas price already rose by 10 percent. It is the highest price since a peak of more than 162 euros in October.
The United States and its European allies fear that Russia is planning to attack or even invade Ukraine. Moscow has gathered many thousands of soldiers in the border region. In addition, in the run-up to the winter, when demand is always higher due to the cold, gas supplies in Europe are less well stocked than usual.
Nord Stream 2
Germany recently threatened to deploy the major gas pipeline Nord Stream 2 to punish Russia if it invades Ukraine. In the event of another escalation in Ukraine, Russia will not be allowed to use the Nord Stream. Traders have long feared that the new gas pipeline, which runs from Russia to Germany through the Baltic Sea and beyond Ukraine, will no longer be put into operation this winter.
This is because the German authorities have not yet issued the necessary certificates and permits. The construction of the pipeline has already been much delayed due to US sanctions.
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