Illustrating the fragility and instability of a world run on scarce, expensive resources.
Any Euro-Energy experts out there, weigh in.
Video posted on Ukrainian media outlets on Friday showed Ukrainian soldiers in control of a gas measuring facility in the town of Sudzha inside Kursk region, where Russia says it has been battling a Ukrainian military incursion for four days.
The soldiers in the 29-second video, shown in a building marked with the logo of Russian gas concern Gazprom, said they were also in control of the town of Sudzha.
Natural gas prices in Europe hit their highest level of the year this week after Ukrainian forces took control of the last remaining transit hub for Russian gas into Europe.
Prices rose for at least three consecutive days, surpassing 40 euros ($43.71) per megawatt-hour for the first time since Dec. 4, 2023, according to Dutch banking group ING.
The surge is connected to Ukraine’s surprise incursion into southwestern Russia’s Kursk region on Tuesday and the reported seizure of a gas metering station in the town of Sudzha, where Russian gas flows into Europe via Ukraine.
Despite the border clashes, both Ukraine’s gas transit operator and Russia’s Gazprom assured that energy shipments, set to expire at the end of 2024, would continue through Ukraine.