A single crypto regulator to appear in the EU Hotels in Maldives and Thailand accept crypto payments PayPal added bitcoin support to its mobile app Corporations invested more than $6 billion in crypto industry in the last 10 months DeFi-platform Velodrome accuses crypto sleuth of stealing $350k S&P Global dropped Coinbase rating to a speculative level BitGo will seek $100 million for Galaxy Digital refusal to acquire crypto platform Brazilian crypto exchange blocked customer accounts and fired staff Celsius Network’s debts is more his assets for $2,8 billion

Breakthrough: the price of gas in Europe climbed to $1350

Breakthrough: the price of gas in Europe climbed to $1350

Natural gas prices on the spot market surged to a new record high of $1,350 per 1,000 cubic meters for the first time. The last time growth occurred was in October 2021. 

Most likely, the price hike on Monday, October 13, was due to the announcement of the German Foreign Ministry about the temporary suspension of the Nord Stream 2 pipeline certification. As Minister Annalena Baerbock said on the air of the German TV channel ZDF, European law must be applied to all energy projects in the country, and the Russian project fails to comply with these norms so far. The Minister is known as an opponent of the project's completion.

With the shortage of natural gas in European underground gas storage facilities, this news provoked a sharp increase in the price of natural gas. An alternative to the Russian pipeline is U.S. LNG. Yet, most tankers have been redirected to China, also suffering from the energy crisis. 

Recall that Nord Stream 2 was completed in September 2021, when the spot market was already experiencing record price levels. However, the certification and launch of the pipeline were postponed several times. The final receipt of all permits will likely be delayed until the spring of 2022.   

0
Is there an error in the article?
To report