New energy price rise fear as Putin shuts off Russian gas supply

“Such action may impact the UK domestic gas market in one or two ways: domestic gas prices would increase due to the international increases of gas prices, and there could be shortage of gas supply.

“This is because Norway, one of the UK’s main gas suppliers, may have to send more gas to Germany and other European states to compensate for some of the shortage of Russian gas.

“Therefore the UK may find itself receiving less of the Norwegian gas. If this happens, the UK energy security will deepen and the country may find itself forced to reopen the coal pits this winter.”

There are concerns Russia could extend the outage in an attempt to drive up gas prices, which have already rocketed in the past year.

Gazprom said its only remaining turbine, which is located at the Portovaya compressor station, north-west of St Petersburg, needs maintenance.

Klaus Mueller, the head of Germany’s Federal Network Agency, said the work is technically incomprehensible and he considers it a way of punishing Germany for siding with Ukraine since the Russian invasion.

Article source: https://www.express.co.uk/news/science/1662931/putin-russia-gas-supply-shut-off-energy-price-rise-fear