{"id":45821,"date":"2022-07-27T11:14:07","date_gmt":"2022-07-27T11:14:07","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/07\/27\/gas-prices-soar-as-russia-cuts-german-supply-2\/"},"modified":"2022-07-27T11:14:07","modified_gmt":"2022-07-27T11:14:07","slug":"gas-prices-soar-as-russia-cuts-german-supply-2","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/07\/27\/gas-prices-soar-as-russia-cuts-german-supply-2\/","title":{"rendered":"Gas prices soar as Russia cuts German supply"},"content":{"rendered":"
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Gas prices have skyrocketed after Russia further cut gas supplies to Germany and other central European countries after threatening to do so earlier this week.<\/b><\/p>\n<\/div>\n

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European gas prices rose 9%, trading near their previous all-time high after Russia invaded Ukraine. <\/p>\n<\/div>\n

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Critics accuse the Russian government of using gas as a political weapon.<\/p>\n<\/div>\n

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Russia has throttled inflows into Germany through the Nord Stream 1 pipeline, which is now operating at less than a fifth of its normal capacity.<\/p>\n<\/div>\n

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Germany imports 55% of its gas from Russia and most of it comes through Nord Stream 1 \u2013 the rest comes from land-based pipelines.<\/p>\n<\/div>\n

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Russian energy company Gazprom has tried to justify the latest cut as being necessary to allow maintenance work on a turbine.<\/p>\n<\/div>\n

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However, the federal government said there was no technical reason for limiting supply.<\/p>\n<\/div>\n

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Ukraine has accused Moscow of waging a “gas war” against Europe and cutting supplies to inflict “terror” on the people.<\/p>\n<\/div>\n

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    \n
  • Can the world get by without Russian oil and gas?<\/li>\n
  • Russian gas boss says: “Our product, our rules”<\/li>\n
  • Russia wages gas war with supply cuts – Zelensky<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
    \n

    The recent reduction in flows is putting pressure on EU countries to further reduce their dependence on Russian gas and will likely make it harder for them to replenish their gas stocks ahead of the winter.<\/p>\n<\/div>\n

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    Since invading Ukraine, European leaders have held talks on how to reduce dependence on Russian fossil fuels.<\/p>\n<\/div>\n

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    On Tuesday, the European Union agreed to cut gas consumption if Russia cuts supplies, but some countries will have exceptions to avoid rationing.<\/p>\n<\/div>\n

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    EU members have now agreed to voluntarily reduce gas consumption by 15% between August and March.<\/p>\n<\/div>\n

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    However, the deal was watered down after there were previously no exceptions.<\/p>\n<\/div>\n

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    The EU has said its aim of the deal is to achieve savings and store gas before winter, warning that Russia is “continuously weaponizing energy supplies”.<\/p>\n<\/div>\n

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    The voluntary agreement would become mandatory if supplies reach crisis levels.<\/p>\n<\/div>\n

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    The EU agreed in May to ban all Russian oil imports arriving by sea by the end of this year, but an agreement on gas bans has taken longer.<\/p>\n<\/div>\n

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    Since Russia invaded Ukraine in February, wholesale gas prices have already skyrocketed, impacting energy bills for consumers around the world.<\/p>\n<\/div>\n

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    The Kremlin blames western sanctions for the price hike and insists it is a reliable energy partner and not responsible for the recent gas supply disruption.<\/p>\n<\/div>\n

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    While the UK would not be directly affected by a gas supply disruption, as it imports less than 5% of its gas from Russia, it would be affected by rising prices on world markets if demand in Europe increases.<\/p>\n<\/div>\n

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    British gas prices rose 7% on Wednesday, nearly six times a year ago but still 20% below the peak following Russia’s invasion of Ukraine.<\/p>\n<\/div>\n

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    Electricity bills in the UK rose by an unprecedented \u00a3700 in April and are expected to rise again to \u00a33,244 a year for a typical household in October.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Gas prices have skyrocketed after Russia further cut gas supplies to Germany and other central European countries after threatening to do so earlier this week. European gas prices rose 9%, trading near their previous all-time high after Russia invaded Ukraine. Critics accuse the Russian government of using gas as a political weapon. Russia has throttled […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-45821","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nGas prices soar as Russia cuts German supply - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/07\/27\/gas-prices-soar-as-russia-cuts-german-supply-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gas prices soar as Russia cuts German supply\" \/>\n<meta property=\"og:description\" content=\"Gas prices have skyrocketed after Russia further cut gas supplies to Germany and other central European countries after threatening to do so earlier this week. 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