London, Tuesday, 26 April 2022
Following reports that Russia will cease gas deliveries to Poland tomorrow, EU natural gas futures jumped as much as 17% to over €100 per megawatt-hour on Tuesday.
Earlier in the day, Polish energy consultant Naimski stated PGNiG (the Polish gas distributor) would refuse to pay for gas in rubles if Russia demanded it.
Poland now imports 55 percent of its gas from Russia, but the country has already taken moves to reduce its dependency, including expanding a terminal in Swinoujscie in north-western Poland and constructing a new pipeline from Norway.
(Research and edit by: The Decision Maker – International Relations and Energy editors)