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UK Wholesale Gas Prices Rise After Ukraine Gas Halt By Kremlin
Well that didn't take long. Home prices are not the only thing surging in Britain as Reuters reports British spot wholesale gas prices climbed over 7% after Ukraine and Russia failed to agree on the price of future gas deliveries. Britain gets around 5% of its gas from Russian sources and a mild winter and spring have prompted utilities to inject more gas into storage than usual. One analyst notes "as yet flows through Ukraine to Europe have not been disrupted but the market has become increasingly concerned that they will," and now, following the explosion in the largest gas transit pipeline in Europe, disruptions have begun.
"Prompt prices have opened significantly higher on the risk of a halt to Russian supplies at some point today," a gas trader said.
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Gazprom said it would continue to supply European consumers with gas at "full volume" and Ukraine's state-owned Naftogaz should make sure it transits through the country.
Britain gets around 5 percent of its gas from Russian sources and a mild winter and spring have prompted utilities to inject more gas into storage than usual.
Britain's storage facilities are currently 77.5 percent full, according to Gas Infrastructure Europe, and injections into storage so far on Monday were around 44 million cubic metres (mcm).
Increased injections into storage have likely led to undersupply, as gas flows from Norway are largely stable.
Britain's gas system was undersupplied by around 24 mcm on Monday morning. Demand was forecast to be 190 mcm, while flows were expected to be around 166 mcm, according to National Grid data.
As a result, gas for immediate delivery on Monday was 2.75 pence or 6.6 percent higher at 44.00 pence per therm.
"As yet flows through Ukraine to Europe have not been disrupted but the market has become increasingly concerned that they will," said Thomson Reuters Point Carbon analyst Oliver Sanderson.
Prices have stabilized today but the jump in the last few days is a clear example of the fragility and interconnectivity of 'costs' from the Russia-Ukraine situation.
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luckily for us all, the central printers can "kill inflation in 15 minutes"
I wish someone would inform my local Walmart about that. I walk in there and either the prices have gone up.....or the packages have gotten smaller.
USSA government doing what it does best: fucking everyone over to get at Russia because Putin won't suck Fed Reserve Bankster Ass.
The Kiev Kriminals are nothing more that meatpuppets, bit players in a re run of the Neocon/Nudelman/state department Colored Revolution Kabuki.
OT pretty funny stuff for World Cup watchers
https://www.youtube.com/watch?v=DlJEt2KU33I
Now that is funny, fonz. Totally true too.
They better start planning for the winter...as this will be a big political hot potato all year long....no gas for the Ukraine..means no gas for Europe..
Wow who colulda seen that comin?
dang... and I just invested all my money on that Helium III mining operation on the moon... set to go in 2097...
does it make any sense? the UK is one of the european countries that is least exposed to the vagaries of Russian NatGas deliveries
Commodities don't respect governments Gordo....they flow to the highest bidder.
It exports to Belgium and the Netherlands and they have the liquid terminals that can ship what's left to the rest of Europe.
But than again, there's not nearly enough to supply the rest of europe as even last winter there was a warning of UK gas shortages.
In short, we can bluff our way out untill oktober november before the winter kicks in and we need all the gas we can get our hands on.
Thank god we destroyed all our industrial plants who could also have used gas... WHO'S THE SMARTEST MORON IN THE ROOM NOW BIATCHES??!!
Just an excuse for the big six suppliers to fuck the proles over, supported in government by those who live in their deep pockets. Been going on ad nauseum.
Russia is just helping impose some austerity on Europe so its all good.
So... does Ukraine have a legitimate complaint that if Russia wants to use their pipes to supply Europe, they should get a transport fee, or a gas discount, or some kind of remuneration that will pay for maintaining the pipelines?
The irony is that these questions are in the political realm.
In the business realm it is understood that you pay for the pipeline in the product cost or there will soon be no pipeline - courtesy of entropy, as in NO SABOTEUR NEEDED.
Sadly, the world is now filled with mideval minds who cannot understand this.
Even Medieval minds are not this dumb. Only in the Ukraine would the Kiev Idiots deliberately blow up their own pipelines and then try to blame it on Russia when one of their presidential candidates promised to do the same.
Read what D.Yarosh, leader of the Right Sector has to say about pipelines:
http://dailycaller.com/2014/03/17/world-war-iii-ukrainian-leader-threate...
Only in the Ukraine would the Kiev Idiots deliberately cut off water to Crimea, then squeal like stuck pigs when they don't get a break on a gaz deal.
Only in the Ukraine would the Kiev idiots publicly proclaim the intent to nuke the people of the Donbass and then run to moma NATO when the proposed roentgen sacrifices turn around and FUCK THE KIEV!
Well Bob,
Crimea divorced Ukraine and married Russia.
Divorce and remarriage happen all the time.
Does your ex-wife ask you to provide her and her new husband with sewer, water, and power for free?
Is this a standard you hold for yourself as well as others?
If the pipes are a money loser, and political "Kick Me" sign, why wouldn't they blow them up?
Ukraine were getting 30% discount to Europe !!! AND were billions behind in their bills....I reckon that trumps by a long way...any fee they already receive for Russian piplines. (from which they syphon gas anyway)
The percentage of discount is irrelevant.
Ukraine's gas usage is trivial compared to the rest of Europe.
The real value of the 'Discount' either pays for the pipes it uses or it doesn't. Since 2008 it doesn't. That is a matter of economics, not politics.
You are right that corruption in Ukraine generally and Naftogaz in particular is epidemic. Gazprom isn't much better managed.
Less than 20 years ago these two were the same company in fact, if not in name.
Ua gets between 2,9 and 3,3 per 1000 m^3 of gas for transport plus the technical gas on the top.
time for USSA to pass gas....to europe
it takes time to build the infrastructure, terminals and lng ships... but it certainly can be accelerated and should have been already...
but it will have to wait til obumbler and crew finish with the lez gay trans bi and illegals agenda ... priorities.. priorities
Great Idea!!
And once the USSA is selling gaz to Europe for $14 a unit what do you think that will do to current domestic prices of $4 a unit?
Where are the recruiting offices for ISSA-USSA?
Well with new trouble in Iraq and a threat to oil supplies out of their, threats to supplies through the Ukraine.....wouldn't take much more..say Russia stiring trouble in another oil country in the ME...to have Europe and USA calling the dogs off Russia.
Is it lost on everyone that in 2001 Ukraine's "Naftogaz" and Russia's "Gazprom" were the same company in all but name?
Right now Ukraine's pipelines are an expensive money-loser and a political "Kick Me" sign.
Why would anyone expect Ukraine to want to keep them?
It is not reasonable to expect people to do things that are not to their benefit.
Full retards Hague and Cameron went public a few weeks ago advising the world there would be costs if Putin does not back down.
They will be sucking Putins stiff one in a few years when we run out of domestic gas, particularly when Scotland go independant!