Specialists on the laybarge Fortuna has welded the last pipe of the two strings of the Nord Stream 2 Pipeline at (06.09.21). The pipe number 200,858 was subsequently lowered onto the seabed in German waters. Foto: Nord Stream 2
Vice President of the Hungarian Energy and Utilities Regulatory Authority, Pál Ságvári, expects high gas and energy prices to stay high over the next few months. He compared the situation to a “perfect storm,” given that in recent months there were temporary supply disruptions on both the Russian and Norwegian supply sides, while in the US, a hurricane has impeded LNG exports. Meanwhile, there is a political debate between Russia’s Gazprom and the European Union over the commissioning of the Nord Stream 2 natural gas pipeline, a dispute which has created instability in the gas market.
According to him, the rise of energy demand in the post-pandemic period in Europe has collided with the supply disruption, while demand in Asia is even higher than in Europe, meaning it is luring away LNG shipments. However, as Ságvári underlined, Hungary’s households, consumers and society in general are protected from skyrocketing energy prices due to Hungary’s state-sanctioned regulated prices.
As for the EU’s “Fit for 55 Package,” Ságvári warned that the Emissions Trading System could have a negative effect on the competitiveness of the EU, if non-European countries do not make their companies pay for CO2 emissions.
Source: Portfolio.hu
Bulgaria’s pro-European opposition has tabled a declaration committing the country to join the Eurozone on…
In a new step in the cleaner transport transition, OMV Petrom has inaugurated Romania's largest…
The Security Service of Ukraine (SBU) has arrested two Ukrainian military veterans in Zakarpattia, west…
Hungary currently leads the world for share of solar energy in its energy mix, as…
Albanian Prime Minister Edi Rama has claimed victory in Albania’s parliamentary election on Sunday, 11…
The EU can formally begin accession negotiations with Bosnia and Herzegovina (BiH) when a stable…