6/16/2022, 1:13 PM (Source: TeleTrader)
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European gas futures up 23% amid supply worries

Natural gas prices in Europe rose more than 23% on Thursday amid the increasing concerns about gas supply and updates on Gazprom deliveries. Although Britain will get more natural gas from Norway, a significant exporter, today it was also known that French Engie SA saw it reduced the gas shipments from Russia. The report follows similar news from Germany and Italy.

Earlier, on Tuesday, it became known that the Russian company was reducing the amount pumped by 40%, to which the authorities from Moscow answered today that the reduction of gas flow via the Nord Stream pipeline is "not intentional" but somewhat the consequence of sanctions imposed by the West.

UK natural gas futures for delivery in July climbed 23.05% to 315,000 pence per therm at 1:00 pm CET.

Baha Breaking News (BBN) / JG