natural gas prices

As we while away the warm – even hot – summer months in the Grand Duchy, it’s on many people’s minds that winter is on its way. And that means we go back to burning gas. While official sources show that Luxembourg doesn’t import much Russian gas, we all pay the going market rate.

While the price of gas shot through the roof last week, it seems that a real energy crisis can be avoided in the short term now that Vladimir Putin is going to supply extra gas. Nevertheless, the unexpected turbulence in the energy market is reason for ING to reassess its investment strategies. It is a perfect storm.

The energy transition is anything but smooth. This week, two energy suppliers went bankrupt in the United Kingdom and more are to follow. All this as a result of the record prices for natural gas. In continental Europe, too, the prices for natural gas are going up vertically.