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No Russian Gas for Europe
The price of LNG went up overnight in Europe. The reason is an explosion on the line that took gas to Europe from Siberia. According to Russian sources:
Randomly, during repair work in Chuvashia, there was an explosion and fire on the legendary Urengoy-Pomary-Uzhgorod main gas pipeline, which still surprisingly supplies gas to Europe. This happened the day after the EU agreed on a price ceiling for Russian gas at the level of 180 euros per megawatt hour (about $2,000 per 1,000 cubic meters).
The main routes for deliveries of Russian gas to Europe are the Nord Stream offshore gas pipeline, which was stopped after the explosions in September, the Yamal-Europe gas pipeline (passes through Belarus and Poland, stopped due to sanctions), and the Urengoy gas pipeline passing through the territory of Ukraine -Pomary-Uzhgorod, which continued to work no matter what. Radical patriots in Russia have repeatedly expressed outrage over this.
This happened right after Europe voted to cap the price of this gas starting in February. According to Investopedia:
* EU countries have agreed to cap natural gas prices in the event of a spike from Feb 15, 2023.
* Prices of natural gas futures traded in Amsterdam will be capped if they exceed both 180 euros ($191) per megawatt hour and a 35 euro premium to global liquified natural gas (LNG) futures…