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GN41801EN

ENERGY

Natural gas costs at record high

By Phil Bainbridge

September 20, 2021 - A long cold winter which drained stocks, a summer heat wave with lower wind speeds, hurricanes in the U.S and restricted gas flows from Russia have all combined to cause a dangerous surge in gas prices.

Post-pandemic economic recovery, particularly in Asia, has increased demand and competition for scarce supplies. Gas supplies around a fifth of Europe’s electricity and Europe is facing a growing price crunch for energy, with smaller suppliers committed to fixed price deals going bust and food supplies threatened by the shortage of carbon dioxide, used for everything from frozen goods, in the form of dry ice, to animal slaughter.

Sources
PUBLISHED: 20/09/2021; STORY: Graphic News
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