Gazprom Germania’s headquarters: the German government has nationalised the supplier © REUTERS
European gas prices surged above €100 per megawatt hour on Thursday because of fresh uncertainties over the flow of gas from Russia to Europe.
The concerns reflected Moscow’s imposition of sanctions on key gas companies of which Berlin has seized control and disruption to a gas pipeline through Ukraine.
Future contracts linked to TTF, the European wholesale gas price benchmark, jumped more than 12 per cent to €106 per megawatt hour, up from about €90 per megawatt hour earlier in the week as Russian gas supply to the continent came under a host of new threats.
Late on Wednesday, the Kremlin put sanctions on Gazprom Germania, a set of companies formerly held by Gazprom, the Russian state-owned gas company, that Berlin took over last month. The new legislation prevents Russian entities from selling gas or transacting with a number of…