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Thursday, March 23, 2023

More problems for Spain: EU gas, first supplier from January, has accurate records

The price of natural gas of United States, el henry hubthe reference in this country, has disappeared in the last days and is marked record prices just now that Spain has converted to the North American country in its first gas supplier through the gas pipeline of the Maghreb, that an Argelia with Spain traversed Marruecos and that summed up 20% of the national demand -lleva cerrado from November 1st-.

The price of this energy is at a new rate of up to 9% and marks the 8 million dollars of MMbtu -millions of British term units, equivalent to 28 m3 of gas-. The increment is more than 170% in one year – in February it will contribute up to $ 4 per MMbtu-, as seen in the graph facilitated by Markets Insider. This index shows the price of your product for May.

More Problems For Spain: Eu Gas, First Supplier From January, Has Accurate Records

The escalation in the price of the gases of the United States gas complicates the situation of Europe and Spain with its high energy dependence on Russia, in one case, and on Argelia, on the other. National gas companies are now pushing for an increase in Argelia’s gas prices and the authorities in African countries are responding to Naturgy’s demand to buy prices in 2020, while the pandemic will increase gas prices and Argelia will reduce gas prices. in Spanish.

This price renegotiation is one of the most important gas products of the Maghreb in November, which sums up Spain’s 20% of its consumption. The consequence is that national commercial operators are turning to United States and their offer to sell gas in Europe in order to reduce their purchases in Russia. The result is that, since January, the United States has been the first gas supplier in Spain. March the dependency rises up to 43%, while Argelia raised its weight in this month to the 30% mark in February and February was 25% lower. In March I read the first GNL article in the Netherlands.

Subid of prices

This subsidy will have its obvious consequences for Spain. Now that North American gas is available to cover the cost of its demand, prices and discounts are available. The agreement reached by the United States of America and the European Commission three weeks ago includes the North American gas compromise agreement in Europe, as well as the fact that the price formulation of prices should reflect the fundamentals of the market and include the price of natural gas Henry Hub », said the communiqué issued by the parties in March.

The scenario is not positive for Spain. Mientras Argelia priraa subir la pricios alza y firma acordos con Italia para hacerle socio preferred, la alternativ, el gas de Estados Unidos, se available to pricos record. And all with it each more difficult negotiation between Spain and Portugal and the European Commission for which the permit limits the price of gas to 30 euros and can increase the lure in the mayoral market at noon.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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