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EU to Import More Gas From Norway as Russia Cuts Its Flows

From bnnbloomberg.ca

The European Union reached an agreement with Norway to source more natural gas from the Nordic nation as the bloc tries to lower surging prices and boost security of supplies after Russia, its biggest provider, cut flows to almost half of member states. The 27-nation EU is racing to phase out Russian gas and find new sources across the world after President Vladimir Putin’s invasion of Ukraine. Moscow has started cutting shipments to Europe, affecting 12 member states and pushing Germany to raise its gas-risk level to the second-highest “alarm” phase. “Given the high production levels seen in Norway in the first ... (full story)

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  • Category: Fundamental Analysis