October 1, 2022

Wire Service Canada

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Gas price collapses to 206 euros in Amsterdam, pending the reopening of Nord Stream – Economy

The price of gas is collapsing with speculation that after recent increases it is betting on a recovery from tomorrow as expected for Russian supplies via Nord Stream, after a three-day shutdown for maintenance. The Ttf contract in Amsterdam, the reference for methane in Europe, represents a 15% reduction to €206 per MWh.

A fight and a response between the EU and Moscow – “I am absolutely convinced that the time has come to cap the gas cap of Russian gas pipelines in Europe,” said the President of the European Commission. Ursula von der Leyen. “If the hostile countries impose a ceiling on the price of Russian energy resources, Moscow will supply oil only to countries that adapt to market conditions,” TASS quoted Kremlin spokesman Dmitry Peskov as saying.

The reliability of the Nord Stream pipeline, which transports Russian gas to Europe, is threatened TASS quoted Kremlin spokesman Dmitry Peskov as saying, due to the lack of technological equipment. “There are no technology reserves, there is only one turbine in operation, so you do the math,” the spokesperson said.

Measurements in Italy – will be worth “One or two billion” planned intervention Next week by the government “to immediately allow energy and gas at a controlled price”. This was announced by Tourism Minister Massimo Garavaglia. It’s “isolating interference” and it’s “not a small matter”. Garvaglia explained that “Minister Singolani’s main lines” envision “two decrees in favor of energy consumers and gas eaters.” “Early next week, the government will implement measures that will lower the costs of the energy bill, the goal is to restore purchasing power. Italy has been demanding a gas price cap for months, and not everyone has agreed. The European Union but things are changing.” So Health Minister Roberto Speranza.

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political debate – “At the moment, Italy has two priority emergencies that must be resolved. Immediate interventions are needed to prevent increases in electricity and gas, but also to stop sending tax bills from the Revenue Agency.” The league captain’s permission, Matteo Salvini. “I don’t want to win an election with a country on its knees and a million more unemployed people. There is a government that is still in power. As France did, which immediately allocated 30 billion,” Salvini said.

“There are entrepreneurs deciding whether to shut down or take debt to close at the end of the year and that’s not possible.” So the Minister of Foreign Affairs and the leader of civic engagement, Luigi Di Maio On the sidelines of the Ambrosity Forum. It is “a moment of great suffering for our Italian companies, from the smallest business to the largest manufacturing company – the minister adds – everyone is suffering from the price of energy that stems from Putin’s blackmailing of Europe, from the game he plays in reducing gas quantities that then allows for strong speculation in the Ttf in Amsterdam” . As for the hypothesis of energy rationing, Di Maio replied that “the only rationing I want to do at the moment is on the bills of Italian companies. Pay the Italian bills for 80%, otherwise the companies, whether rationing or not, will not be able to cope with the fall, nor until winter.”