JRL NEWSWATCH: “Why Russian exports hold sway over European and British gas prices” – Reuters/ Susanna Twidale

EU Map adapted from cia.gov image

“Benchmark European gas prices jumped 15% … after a major pipeline … from Russia began sending flows eastwards. … Europe relies on Russia for around 35% of its natural gas[,] [t]he bulk … through pipelines including Yamal … through Belarus and Poland to Germany, Nord Stream … to Germany, and pipelines … through Ukraine. … Last year [Russian] gas exports … fell because [of] lower economic output, … [during] lockdowns  …. This year[‘]s supplies … failed … to match … [resurgent] demand …. Gas Flame file photo[The new] Nord Stream 2 … has been controversial … [S]ome European lawmakers have suggested Russia has deliberately reduced flows to Europe to stoke demand for [Nord Stream 2] …. [C]onstruction … has been completed, [but] flows cannot start … [without] regulatory approval ….”

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