Gas futures selling in Amsterdam fell almost 10% from the beginning of the month, reaching the lowest level from May.
European prices for natural gas fell to almost the lowest level of this year on the eve of the historic summit between US president Donald Trump and Russian leader Vladimir Putin. She is writing about it Bloomberg On Friday, August 15.
Amsterdam gas gas is reduced by almost 10% from the beginning of the month, reaching the lowest level on Friday from May. Although some merchants expect a rapid restoration of Russian gas supplies in Europe – even in the case of a ceasefire agreement in Ukraine, any weakening or tightening of Russian energy penalties can significantly affect world -to -world equipment.
Currently, European gas prices remain higher than levels before the energy crisis, which began more than three years ago after the entire Russian invasion of Ukraine. Europe receives most delivery from remote countries, especially USA and Qatar, while Russia’s gas part last year is less than fifth. For these resources, Europe is competing with big Asian buyers.
The restoration of Russia’s natural gas production projects, some of which are under US sanctions, may increase the global volume of supplies and facilitate the interest of goods.
On the eve of the meeting, the Trump administration urged not overly expectations about success. Trump considers this summit as a phase of preparation for the second, more important assembly, which may include the participation of the President of Ukraine Vladimir Zelensky and, perhaps, some union states. Without a sustainable world, it is difficult to expect a tangible effect on the energy supply.
According to Bloombergnef, the total volume of Russian LNG can reach 50 million tons by 2030 in case of release of appropriate penalties, which is 50% more than 2024. Restrictions are currently falling labor capabilities, including the Arctic LNG 2 and two smaller LNG projects.
The senior researcher at the Oxford Institute for Energy Studies Claudio Stoyer believes that the level of any weakening of energy penalties depends on the size of the cease under Putin’s leadership and convincing obligations to restore to Ukrainian non -accumulated territory.
At the same time, the President of the United States warned Moscow that he was willing to introduce the “very serious consequence” if Putin did not agree with a stop. Trump has doubled the duties for India to 50% for the purchase of Russia’s oil.
He also encourages Europe to increase LNG purchases in the United States, which in the coming years they plan to launch some new projects. The EU has promised to completely abandon the import of Russia’s energy resources by the end of 2027.
This year, Europe has continued to actively replenish gas reserves, which is now filled with almost 73%.
It should be noted that in the case of successful negotiations, until the end of next week a tripartite meeting was planned along with the participation of Trump, Putin and President of Ukraine Vladimir Zelensky. In the event of a failure of negotiations today, Trump announced his willingness to impose new sanctions against Russia.
Keep in mind that the European Union has been working on a proposal to inhibit Russian gas imports until the end of 2027. Meanwhile, Hungary blocked the statement of the EU’s new plan to abandon Russia’s oil and gas.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.