The Dutch Title Transfer Facility (TTF), Europe’s main benchmark for natural gas prices, rose to above €135 ($132) per megawatt-hour on Thursday, the highest in three weeks. The rise was triggered by concerns about delayed US LNG supplies. The EU's dependence on US gas has increased after the bloc imposed an energy embargo on Russia.
"At present, the EU is in line with the energy policy of the US, which does not seek to strengthen Europe and strives to deepen [the bloc's] dependence on American oil and liquefied natural gas (LNG). Since the beginning of the shale revolution, the US has been interested in diversifying its oil and gas supplies and arbitrating prices between the EU and the Asia-Pacific region," said Pavel Katyukha, associate professor of the Department of Oil and Gas Trading and Logistics at Gubkin Russian State University of Oil and Gas.
Katykha believes that during the next two or three years, Europe will face an energy crisis. According to him, this crisis could end in the collapse of the entire European economy, which was built on cheap Russian energy resources.......
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