Europe’s Gas Extends Record Rally on Russian Supply Woes, Wind
- Russia won’t start Nord Stream 2 before Oct. 1: Gazprom CEO
- Low U.K. wind output boosts demand for gas to make power
Photographer: Jasper Juinen/Bloomberg
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Natural gas prices in Europe continued their record-breaking run as uncertainties about supply security this winter worsen. Power prices also surged to a new high amid after a disruption on a power link with France.
Uncertainties over Russia’s ability to supply the region when it also risks a domestic gas crunch are increasing among traders just as temperatures below normal are forecast for the next two weeks there. Storm Nicholas led to the shutdown of Freeport LNG plant, although a tanker has left the export facility in Texas on Wednesday, cushioning concerns over exports of the super-chilled fuel.