Russia to Rescue as Europe Draws More Gas in Siberian Chill
- More pipeline shipments and a rare LNG cargo due to arrive
- Spot gas prices in Europe tripled to a record as demand surged
Photographer: Matt Cardy/Getty Images
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Russia is sending more natural gas to Europe than ever before as a blast of Arctic air lifted demand for heat and electricity, underlining the region’s dependence on its eastern neighbor.
The freeze severely tested Europe’s energy network over the past week. Spot gas prices tripled to a record, drawing in more Russian supplies by pipeline and prompting a tanker of the fuel in its liquid form to schedule arrival in the U.K. next week.