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Natural gas prices in Europe jump after Ukraine blocks Russian flows

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KYIV, UKRAINE: Director General of Gas Transmission System Operator of Ukraine LLC (GTSOU) Serhiy Makogon. GTSOU will block Russian gas flows via two key entry points in Russian-occupied territory from Wednesday, May 11, 2022.

Yuliia Ovsiannikova/ Ukrinform/Future Publishing via Getty Images

European natural gas prices jumped after Ukraine’s state-owned grid operator suspended Russian flows through a key entry point.

Gas TSO of Ukraine on Tuesday announced force majeure – unforeseeable circumstances that prevent the fulfilment of a contract – the first declaration of its kind since Russia invaded Ukraine on Feb. 24. It said it would not accept flows through its Sokhranivka entry point,…



Source cnbc.com

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