Tuesday, January 04, 2022

Gas Price Hike of More Than 30% Stokes Home Bills Fears for Europe

THE GUARDIAN: Rise comes amid ongoing concern about intentions of Russia as supplies flow east for 15th day in row

European gas prices have risen by more than 30% on Tuesday, adding to mounting concerns about the cost of heating a home, as supplies that usually come into Europe from Siberia continued to flow eastwards for the 15th day in a row.

The Kremlin has repeatedly denied using Russia’s vast gas resources to turn the screw on Europe, after gas coming through the Yamal-Europe pipeline reversed direction three days before Christmas.

Data from the Mallnow metering point on the German-Polish border on Tuesday showed that the eastwards flow of gas has increased, with volumes hitting almost 9.9m kilowatt hours an hour (kWh/h), up from 5.8m previously.

Eastbound volumes via the Yamal-Europe pipeline hit almost 9.9m kWh/h at the Mallnow metering point on the German-Polish border on Tuesday morning, the data showed, up from 5.8m previously. » | Rob Davies | Tuesday, January 4, 2022