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Europe gas spikes 22% as Germany quarrels with Russia over supply

Shipments from Russia via Ukraine are set to fall by about 30 percent on Thursday following interruptions at a cross-border entry point as a result of the war in Ukraine.

By Elena Mazneva and Anna ShiryaevskayaBloomberg

Published On 12 May 2022

European natural gas prices jumped following disruptions to a key transit route through Ukraine, and as Germany said Russia was using energy as a weapon in an escalating clash over supply.

The benchmark contract surged more than 22%, with shipments from Russia via Ukraine set to fall by about 30% on Thursday following interruptions at a cross-border entry point as a result of the war. It adds to the market’s concerns as Moscow halted shipments to Gazprom Germania GmbH and its units in retaliation.

Moscow late Wednesday sanctioned the former Gazprom PJSC subsidiary — which is now under the control of the German energy regulator — including energy supplier Wingas GmbH

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