Global Gas Scramble Intensifies After Europe Pipeline Blasts
- Suspected sabotage of Nord Stream links boosts prices
- Europe and Asia seen racing to secure limited US cargoes
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The suspected sabotage of pipelines carrying Russian gas to Europe looks set to intensify already-heated global competition for shipments of the power-station fuel.
The currently out-of-action Nord Stream pipeline system was damaged, with Germany saying it suspected it was an act of sabotage. It came as Russia also threatened to cut off gas to Europe via a major link through Ukraine, which would be a sharp escalation in the conflict between Moscow and the West.