Irish Times: Ukraine crisis threatens winter gas stocks

European gas supplies are likely to look increasingly vulnerable this winter if the conflict between Ukrainian and Russia continues, one energy company is warning today.

Fears that the crisis could escalate into full-scale war sparked a month of volatility in natural gas prices in August. Figures released today by Bord Gáis Energy show Natural Gas prices rose 9 per cent from July to August.

Bord Gáis trader John Heffernan points out that Russia’s Gazprom is not supplying Ukraine with natural gas and the two states are locked in a dispute over prices and outstanding debts.

“As we approach winter, the gas markets throughout Europe will become increasingly concerned that in the absence of an interim solution European gas supplies will look increasingly vulnerable as Ukrainian gas demand rises and European stocks are eroded,” Mr Heffernan said.
MORE