Europe’s natural gas prices would have to double to lure enough cargoes from the global market to replace Russian supplies, adding to the challenges of decreasing the region’s dependence on its neighbor.
The Tankard European natural gas indexes started this week are an improvement on those published by price-reporting agencies because they are harder to manipulate, according to the Oxford Institute of Energy Studies.
Commodities fell for a fourth day, led by a 3.3 percent slide in crude oil, as Japan’s biggest earthquake and nuclear crisis spurred concern that demand for raw materials, including some energy products, will shrink.
BlackRock Inc., Nuveen Investments Inc. and Federated Investors Inc. learned how bondholders can get swept into a bankruptcy when a Chicago high-rise retirement community became 2011’s second-largest municipal default.
Russia will consider opportunities for increasing direct natural gas supplies to Europe and potentially build new pipelines as Germany shifts away from nuclear power, Russian Energy Minister Sergei Shmatko said.