Gas prices in Europe rose by up to 17 percent on Tuesday evening after Bulgaria and Poland announced that Russia would cut off gas to the two countries on Wednesday. This is reported by the financial media Bloomberg.
According to the media, the price increases are due to fears that other European countries could be the next to be cut off by Russia.
According to Bulgaria and Poland, it is the state-owned Russian gas company Gazprom that has informed them that gas will be cut off via the Yamal pipeline. Russia will cut off gas to the two countries because the countries' gas companies will not pay for the gas in Russian rubles, which Russia is demanding.
PGNiG, Poland's energy company, believes that Russia is violating the contract that was entered into by demanding payment in rubles.
After the EU imposed sanctions on Russia due to the invasion of Ukraine, Russian President Vladimir Putin has demanded that the gas be paid for in rubles. Western countries have rejected this because the contracts state that the gas must be paid for in euros and dollars.
In 2021, the EU received around 40 percent of its gas from Russia. Germany in particular is very dependent on Russian gas. According to the Reuters news agency, the country is Europe's largest consumer of Russian gas.
Ritzau
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
