Gas, Moscow accuses: "Cingolani plan imposed by the US and the EU".  And the EU wants "control" of the Amsterdam Stock Exchange

Gas, Moscow accuses: “Cingolani plan imposed by the US and the EU”. And the EU wants “control” of the Amsterdam Stock Exchange

MILAN – The spotlight is always on gas in Europe after that Gazprom decided to extend the closure of the pipeline Nord Stream thus effectively suspending the supply to the Continent. At the Ttf market in Amsterdam, reference for exchanges, in the morning compared to yesterday’s closing at 240 euros per megawatt hour, the values ​​fell to 218 euros (-11%), recovering the levels on Friday, after the jump immediately following the Russian announcement of the closure of supplies through the Nord Stream 1. A drop that is also confirmed in the afternoon negotiations, with the market that at this point believes in the possibility that the EU will vote compact for a gas price ceiling.

Gas, this is how the TTF market works. A handful of operators price their bills, but now they are at the mercy of Putin

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The EU wants “control” of the Amsterdam gas market

The introduction of a gas price cap will not be the only proposal coming from Brussels and which will be discussed in the European Council of Energy Ministers the next 9 September. There will also be the “separation” of the energy markets from the gas one and a series of financial aid to countries to support businesses and families in the face of high bills. But another novelty will arrive on the table of ministers that will certainly cause discussion: to exercise greater control over the inanziatio gas market, which is Amsterdam as its reference center in Europe.

The European Commission would be studying the possibility of intervening on the Title Transfer Facility (in other words Ttf), where the reference price of gas is fixed, which is used for the vast majority of trades. Including those between Gazprom and its customers in the Union.

It can be read in a document that will be submitted to the European Council: among the options taken into consideration, the possibility of “subjecting the FTT to financial supervision” by theEsmathe European Financial Instruments and Markets Authority, established in 2011 with the task of overseeing the financial markets of the EU.

The goal of this move? “Avoiding possible speculative moves” and the hypothesis of “developing further benchmarks” for gas “complementary” to the Ttf “to ensure a better functioning of the market” and better respect the differences between countries. In other words, greater control for a market that is determining the economic and not only economic destinies of the European Union, strengthening its rules of operation.

Moscow’s blackmail on gas: “No sanctions or we won’t reopen”

by our correspondent Claudio Tito

Moscow attacks Europe: “Cingolani plan imposed by the US and the EU”

Meanwhile, a new attack on Europe arrives from Moscow. The Italian plan for reducing dependence on Russian energy sources, developed by the Minister for Ecological Transition Roberto Cingolani, “is imposed on Rome by Brussels, which in turn acts on orders from Washington, but in the end it will be the Italians who they will have to suffer, “Moscow Foreign Ministry spokeswoman Maria Zakharova wrote in a post on Telegram. “” Rome is driven to economic suicide by the Euro-Atlantic sanctioning frenzy “, and the result will be that Italian companies will be” destroyed by the ‘brothers’ from overseas “, since American companies today” pay seven times less for electricity of the Italian ones “, added Zakharova.” The sanctions have become an instrument of unfair competition “against Italian producers, adds Zakharova, according to which” when Italian companies collapse, they will be bought cheaply by the Yankees

Italy full of coal. Power plants pushed to the maximum to save methane

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An intervention that comes a few hours after the Russian Minister of Energy Nikolai Shulginov, according to which “Europe has no one to rely on except the Americans, who are increasing LNG production” and if “it plans to completely abandon Russian gas supplies”, it must be safe to reach the goal “to be able to do so by 2027”. Shulginov, speaking to the Eastern Economic Forum, added that the European program of energy independence from Russia will have various consequences. “The pricing situation itself confirms that it’s not that easy,” he noted.
“On top of that, this will lead to a setback in the sector, including the production of chemicals and gases. It will be a whole new life for Europeans. It is too much for them,” he concluded.

The Mite plan for the containment of natural gas consumption

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