France’s multinational utility corporation Engie said on Thursday that Russia has reduced gas shipments, Bloomberg reports, citing a company statement.
Similar announcements have been issued by several European utilities, including Germany’s Uniper, Italy’s Eni and Austria’s OMV.
The reduction of supplies to Europe to less than half of the usual volumes is expected to send prices for natural gas on the continent soaring further.
On Thursday morning, Dutch wholesale gas prices, the European benchmark, surged by up to 25%, adding to the 44% rise in the previous two sessions, reaching over $1,500 per thousand cubic meters for the first time since April.
READ MORE: Russia warns of potential gas ‘disaster’ for Germany
The price spike followed Gazprom’s statement that technical issues have forced the Russian energy giant to reduce gas supplies to Germany via the Nord Stream pipeline by nearly 60%.
© 2022, paradox. All rights reserved.
Former US President Donald Trump paid the $9,000 fine for violating a gag order imposed…
Russian forces are steadily advancing in the Ukraine conflict, the US Director of National Intelligence,…
An out-of-control ice cream truck rolled down a slope and crashed into a group of…
He was a staunch supporter of the anti-Bolshevik White Movement during the Russian Civil War…
Ukraine needs to defeat Russia on the battlefield in order to be admitted to NATO,…
Russia has carried out a strike on the Ukrainian military headquarters commanding troops in the southern…