Europe Natural Gas Prices Surge to EUR 29/MWh Following Russian Attack on Ukrainian Facility
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
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Russian gas supplies to Bulgaria, Greece, Turkey and Macedonia have been reduced by 1/3, according to Kiril Temelkov, CEO of Bulgaria's state-owned gas transmission operator Bulgartransgaz.
"At present, gas supplies for Bulgaria, as well as volumes of gas exported for Greece, Turkey and Macedonia, have been slashed by over 30%," Temelkov said in an interview on Friday.
Bulgartransgaz' CEO explained that Bulgaria was using its own reserves to make up for the gas supply restriction amid the severe winter weather.
On Thursday, Dimitar Gogov, CEO of state-owned gas supplier Bulgargaz, told Capital Daily that natural gas consumption in Bulgaria had gone up by 10-15% over the cold spell of the last days.
He told journalists that increased demand was being met by tapping reserves from the Chiren gas depot and from local gas production, which he said was quite scant.
Gogov added that the consumers had been advised to stick to the contracted volumes of natural gas.
Gogov further explained that, although the Chiren gas depot contained reserves for 90 days, only limited quantities of gas could be taken out of it on a daily basis, and the volumes would not suffice to meet soaring consumption.
Earlier on Friday, EU observer noted that impact of the sharp drop in Russian gas supplies had spread to a total of nine countries, including Italy, Austria, Slovakia, Poland, the Czech Republic, Bulgaria, Greece, Hungary and Romania.
Gas supply restrictions first hit Italy on Tuesday.
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