Europe's Top Energy Companies Continue To Buy Russian Natural Gas

Bloomberg: European Energy Firms Rush to Buy Russian Gas Even After Attack

(Bloomberg) -- Europe’s top energy companies are rushing to buy more Russian gas even after President Vladimir Putin’s forces attacked Ukraine.

Utilities are ordering more of the fuel under long-term contracts with Gazprom PJSC after prices rallied more than 60% on Thursday, when Russia began a full-scale invasion.

That’s because the deals are priced in such a way that Russia imports are now cheaper than spot gas traded at European hubs.

Russia launched a barrage of missile attacks on Ukraine early Thursday, triggering the worst security crisis Europe has witnessed in decades. Ukraine said Russian forces have entered the Kyiv region near the border with Belarus, and separatists have begun assaults in the eastern part of the country.

Energy prices rallied, with European natural gas surging by a record 62%.

Read more ....

Update: Russia Invades Ukraine and Europe Buys More Gas. Here’s Why (Bloomberg)

WNU Editor: According to Russian state media, energy supplies continue to flow .... No interruptions in energy supplies from Russia — German ministry (TASS).

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