European gas prices surge after Germany slashes Russian imports

摘要

European gas prices surged over the past fornight, after Germany slashed Russian gas imports through the Opal pipeline. Germany’s actions were in response to a European court order last week to halve Russian gas supplies via Opal, which connects Russia’s Nord Stream pipeline to Germany. As a result, German gas prices rose 25% to average EUR10.88/MWh on 20 September, from EUR8.68/MWh two weeks ago and the highest level in two months. In the UK, gas prices also hit a two-month high, climbing 27% from a fortnight ago to 29.68 pence per therm (ppt) in the week ending 20 September.