"European natural gas prices have dropped below €100 per megawatt-hour (MWh)
The price represents a drop of almost 20 per cent compared to Friday’s prices and 70 per cent lower than the prices recorded in August, when they rose above €300/MWh.
Concerns over potential winter shortages have been eased by mild temperatures, so far, and gas storage tanks reaching more than 90 per cent capacity
The lower price is still much higher than the €20 to €40/MWh range that natural gas largely traded at over the past 10 years.
Russian gas now only accounts for 9 per cent of the EU’s supply, down from 40 per cent last year."
The last sentence is pretty significant as it shows a massive drop in dependency on Russian gas.
With huge oil reserves (untapped) in eastern Ukraine it does point towards the real reason Putin has chosen to invade, and confined himself to that area.
Just as in the late 1930's an invasion was justified on the grounds of taking Germans back into the 'greater' Germany, so Putin has used the excuse of wanting to 'liberate' Russians in eat Ukraine.
Not the beginning of the end, but the end.....
|  |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
