Gas prices will increase after the tap is closed

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For possible increase in gas prices after the closing the faucet from Ukraine warn international analysts.

According to the BBC, European countries that rely heavily on Russian gas should pay special attention to the latest moves by Ukraine, which says that will stop the flow of gas through its network that transports t1/3 of the fuel delivered to Europe.

“Although the impact on the actual amount of gas delivered has not yet been determined, the signs are that prices could rise,” said Nathan Piper, head of oil and gas research at Investec.

He adds that the effects of supply constraints that push prices are coming as Europe tries to replenish stocks by summer, with a view to next winter.

Although the European Union has been focusing for weeks on how to get rid of Russian energy, some Member States disagree on the strategy to be followed. In fact, the bloc has pledged to cut gas imports by two-thirds by the end of 2022, but urges countries to consolidate their reserves.

How much gas does Russia supply to Europe?

In 2019 Russia accounted for 41% of EU gas imports.

According to the BBC, Italy and Germany will be particularly vulnerable to depletion of their stocksas they are the countries that import the most natural gas from Russia.

Less dependent however from Moscow is the Britainwhich imports only 5% of its gas supplies.

Source: skai.gr

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