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This was about eleven percent more than the previous day. Its latest price was 34.50 euros.
The market referred to the partial strike at the liquefied natural gas (LNG) plant in Australia operated by energy company Chevron. The dispute between the union and the Chevron and Woodside companies has been going on for weeks. While an agreement has now been reached with Woodside, there are still differences of opinion with Chevron.
European gas storage facilities are now well stocked. However, Europe is dependent on a continuous supply of liquid gas. Australia primarily supplies products to the Asian market. However, if these deliveries fail, European suppliers may step in and reduce the supply in this country.
The price of European natural gas is currently far below what it reached during Russia’s war against Ukraine. At times more than 300 Euros per megawatt hour had to be paid. Russia had severely restricted gas supplies to Europe, so a replacement had to be found. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
