The surge in prices was spurred by reduced Russian flows and an outage at a key LNG export terminal. European gas prices have soared by as much as 50% in just one week. Europe’s natural gas prices jumped by as much as 50% in just one week, settling on Wednesday at their highest level in two months. The relative calmness in the European gas market turned out to be very premature and short-lived. Gas Flows To Italy Cut, TooWhile Gazprom had a readily-prepared reason for the cut to German gas supply, it didn’t give any for the 15% reduction in its gas deliveries to Italy.

Source: The North Africa Journal June 17, 2022 00:07 UTC