Gas futures up by 5% as gas leaks hit two Russian pipelines - Breaking The News

Gas futures up by 5% as gas leaks hit two Russian pipelines

27 September

1 min read

EPA-EFE/FILIP SINGER

The prices of European gas futures rose over 5% on Tuesday as gas leaks hit two Russian pipelines that run under the Baltic Sea near Sweden and Denmark.

The Swedish Maritime Authority issued a warning concerning the leaks in the Nord Stream 1 pipeline soon after discovering a leak in the nearby Nord Stream 2 pipeline that had led Denmark to restrict vessels to a five-nautical-mile radius. Denmark's Ministry of Energy decided to put the energy sector on alert.

UK natural gas futures for delivery in October rose 5.30% to 257.600 pence per therm at 11:29 am CET.

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