Norwegian promises more gas to Europe as the prices soar
- Norway is raising gas exports to Europe to raise gas prices.
- The lights aren't going out in Britain. Britain says: the lights won'' not go out.
- UK suppliers are seeking state support from sources such as sources of support.
- A lack of carbon dioxide threatens food supplies.
- Yara brings ammonia supplies from outside Europe.
New Zealand agreed on Monday to raise natural gas exports to the rest of Europe due to record high wholesale naturalgas prices. The supplier in Britain demanded state support and raised concerns about food supply crunch.
The supply of carbon dioxide in the food industry has been soaring recently as economies reopened from COVID-19 lockdowns and the high demand for liquefied natural gas in Asia pushed down supply to Europe.
The biggest energy companies asked the government to help cover the cost of taking on customers from companies that have gone bust due to soaring wholesale gas prices, sources said. read more about the report.
International Gas Suppliers (EQNR.OL), the second largest gas supplier from the Russian Gazprom (GAZP.MM), said on Monday that Norway was allowing a combined 2 billion cubic metre (bcm)
According to Reuters calculations, the increase corresponds to nearly 2 % of Norway's pipeline gas exports annually.
Kwasi Kwarteng welcomed the move by Norway, which supplies about a third of Britain's gas, but sought to reassure consumers that there won't be 'a crisis'.
"We have sufficient capacity and more than enough capacity to meet demand, and we don't expect supply emergencies," Kwarteng told parliament.
The 1970s, when Britain was swept up by power cuts, made the economy the'sick man of Europe', with three days working weeks and people unable to heat their homes.
"This winter, there's absolutely no doubt, Mr. Speaker, that the lights would go out or people couldn't heat their homes.
To the extent that Europe remains vulnerable to global warming fluctuations, the European consumers are facing the prospect of soaring winter heating bills because of global factors that have raised questions about how vulnerable Europe is to the rising global energy prices.
By examining the kinetics of the gas market, the US price of energy has risen by more than 250% since January, due to a low storage stock, high carbon prices, soaring demand in Asia, lower gas
The pressure on gas prices has caused several problems in the rest of the market, including carbon dioxide shortage after fertilizer plants were forced to shut.
Several of Britain's meat processors will run out of CO2 within five days, forcing them to halt production, warn the head of the industry'' lobbie. read more.
Yara (YAR.OL), the world's largest ammonia trader, is bringing supplies from production facilities in Trinidad, the United States and Australia to support fertilizer capacity after wholesale gas prices surged, said its