Gas prices in the UK and EU have risen significantly as Russian supply is expected to decrease

the Gas reference prices wholesale in UK and Europe closed today in Its all-time high After the data indicated that Tomorrow was not expected to export Russian gas to Germany via the main Yamal pipeline.

Europe depends on Russia for about 35% of its natural gas. Most of it comes via pipelines such as Yamal, which goes through Belarus and Poland to Germany, Nord Stream, which goes directly to Germany, and pipelines that go through Ukraine.

The Dutch one-month wholesale gas contract, a European standard, closed Thursday at €145 per megawatt-hour (MWh), close to an all-time high of €155/MWh in October.

The British equivalent closed at 3.46 pounds per kilocalorie, after hitting a record 3.58 pounds per kilocalorie.

Traders said prices were reacting to the news that orders for Russian gas flowing through the Yamal-Europe pipeline to Germany at the Malno measurement point were zero. As of 06:00 a.m. local time on December 17, according to the operator’s website Gascade.

Flows to Germany have been stable in recent days.

With information from Reuters

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