Gas prices in Europe have risen amid growing demand in Asia and a reduction in supplies from Norway. This is reported by Bloomberg.
It is noted that base futures rose by 4.3%, which is the largest daily increase in the last month.
Chinese importers have returned to buying liquefied natural gas on the spot market after a long pause, which has intensified competition for supplies between Europe and Asia. An additional factor was the rise in oil prices, to which some gas contracts are tied.
At the same time, maintenance at fields in Norway, the largest European supplier, has limited pipeline flows. The situation was complicated by unplanned shutdowns and a cold snap in Europe, which could delay the filling of storage facilities, in particular in the eastern regions.
Meanwhile, the EU is preparing a ban on new gas contracts with Russia, which should come into force before the end of the year. This is part of a plan aimed at completely abandoning Russian energy sources by 2027.
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