EU gas prices jump after claimed attack on last Russian pipeline

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Financial Times 1d ago

EU gas prices jump after claimed attack on last Russian pipeline - Financial Times

Quick Summary:

Moscow curbed pipeline gas supplies to the EU after its full-scale invasion of Ukraine in 2022, causing a price spike and prompting the bloc to wean itself off the supply.

It is the only route to Europe left, after flows of Russian gas through Ukraine stopped two weeks ago.

Contrary to the bloc’s target of importing no Russian fossil fuels by 2027, Budapest has a long-term contract dating from 2021 for 4.5 billion cubic metres of Russian gas per year, which Szijjártó announced in October it would increase by more than 2 bcm.