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The U.S. and Russia have been the predominant producers of natural gas. [1] Russian natural gas production (red) and exports (black), 1993–2011 [needs update]. In 2021 Russia was the world's second-largest producer of natural gas, producing an estimated 701 billion cubic meters (bcm) of gas a year, and the world's largest natural gas exporter, shipping an estimated 250 bcm a year. [2]
January gas supplied by Russia to Europe was 1.7b m3 compared with 13b m3 average per month for the 2021 year. [32] The price of natural gas in Europe fell to an 18-month low in mid February of €49pmh with gas storage across the European Union at 65% capacity, well above the average of 45% at this time of year. [33]
Natural gas prices 2000 - May 23, 2022 Comparison of natural gas prices in Japan, United Kingdom, ... Currently, Europe's main natural gas supplier is Russia. [28]
Europe's economic crisis deepened Monday as Russia further squeezed energy supplies to the continent, with German electricity prices soaring 23%. European natural gas prices surge 36% after Russia ...
Oil and natural gas prices climbed Monday, while wheat prices briefly spiked higher, as investors reacted to the weekend’s brief and chaotic insurrection in Russia.
On 19 December 2022 the European Energy ministers agreed on a price cap for natural Gas at €180 per megawatt-hour [181] aiming to stop Russia forcing European gas prices upwards. Exports of gas by Gazprom from Russia in 2021 was 185Bcm, [182] in 2022 it fell by 45% to 100Bcm [183] and in 2023 it fell again to 62Bcm. [184]
“Following further rises in wholesale prices as flows of gas from Russia to Europe via the Nord Stream 1 pipeline drop to 20% of capacity, we now forecast the Ofgem price cap to rise to £3,420 ...
On 26 April, Russia announced it would cut off natural gas exports to Poland and Bulgaria because of their refusal to pay in rubles. On 21 May, Russia halted all of its gas exports to Finland for the same reason. [38] Natural gas prices are expected to remain extremely volatile in the current context of market uncertainty.