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European Gas Prices Soar After Moscow Imposes Sanctions on EU Energy Companies
Russia’s state-owned gas supplier has said it will cut shipments to Europe through a major pipeline, sending prices surging and reinforcing President Vladimir Putin’s willingness to use energy as a weapon against the EU.
Gazprom said gas flows would no longer be possible through the Yamal pipeline after the Kremlin imposed sanctions late on Wednesday on European gas companies. The sanctioned companies include some of its own former units as well as Europol Gaz, Yamal’s owner. The pipeline runs from Russia to Germany via Poland.
“A ban on transactions and payments to entities under sanctions has been implemented,” said Gazprom in a statement. “For Gazprom this means a ban on the use of a gas pipeline owned by Europol Gaz to transport Russian gas through Poland.”
The move strikes out the flow of Russian gas to Europe from a second pipeline in as many days and underlines Moscow’s appetite to push through with warnings to halt gas supplies to Europe.
“On the whole, the situation is escalating,” said Robert Habeck, Germany’s economy minister. “It’s becoming evident once again that Russia is using energy as a weapon.”
The retaliatory action pushed gas prices higher. Future contracts linked to TTF, the European wholesale gas price benchmark, jumped on Thursday about 13 per cent to about €106 per megawatt hour, more than quadruple levels a year ago.
Prices have risen this week from a low of about €90 per megawatt hour as Russian gas supply to the continent faced fresh threats.
Electricity prices also rose. Prices for German power next year hit their highest level in the year to date at over €230 per megawatt hour, according to Refinitiv.
On Wednesday Ukraine’s pipeline operator shut down the flow of gas from one of the two major pipelines that bring Russian gas through the country to Europe, citing interference from Russian occupying forces.
While very little gas has been passing through the Yamal-Europe pipeline in recent weeks, the pipeline is relied upon when gas demand rises.
Tom Marzec-Manser, head of gas analytics at ICIS, a commodity data firm, said sanctions on Europol Gaz could be problematic for German energy security next winter when demand for gas picks up.
The sanctions from Moscow, which said they were imposed in response to a swath of western sanctions, also ban Russian entities from selling gas or transacting with Gazprom Germania, a group of gas trading and storage companies that were taken over by the German government last month.
Gazprom Germania’s assets include Rehden, Germany’s largest gas storage facility, which accounts for about a fifth of the country’s total capacity, as well as large German gas distributors Wingas, WIEH and WIEE that buy supplies from Gazprom.
Germany acknowledged that Russia’s action was already having an impact. Habeck said supply had dropped by 10mn cubic metres a day, or 3 per cent of Russian-delivered gas on an annual basis. But he insisted it was “manageable”.
“The volumes can be procured on the market from other sources, and that’s the task we’re facing, to buy these amounts,” he said. “The German government will do all it can to stabilise Gazprom Germania.”
He said the situation did not warrant triggering an alarm for gas supply, adding that Germany had “prepared for this situation, as well as all other possible scenarios”.
Moscow’s sanctions could hit European gas supply by 13bn cubic metres, according to modelling by the Oxford Institute for Energy Studies. Russia supplied the EU with 155 bcm of gas last year, or about 40 per cent of its needs.
Michael Müller, chief financial officer of RWE, one of Germany’s largest gas buyers, said that it was assessing the impact of the sanctions but it had assumed that the Russians “wouldn’t necessarily fill the gas storage facilities that fall under Gazprom Germania anyway”. These facilities were depleted before the war began after Russia withheld supplies over winter.
The European Commission said it was “analysing the Russian decision on sanctions against certain companies in the EU and the implications for the EU’s security of gas supply”.
It said the move underlined the need to cut dependency on Russian energy. It will unveil a proposal to boost alternative supplies, renewable energy and hydrogen on May 18.
Gas traders have been focused for weeks on a new rouble payment mechanism demanded by Russia, which has led to Poland and Bulgaria being cut off from Russian gas and could flare up again later in May when payments are due from more European buyers.
Additional reporting by Andy Bounds in Brussels
This article has been amended since original publication to correct Michael Müller’s title
Groundbreaking Set for Large-Scale Veterans Memorial Park to Be Constructed in Cannon Falls, MN
When complete the project will feature 11 war memorials, athletic fields, a history museum and a 200,000 square foot banquet hall and education center
CANNON FALLS, Minn., May 5, 2022 /PRNewswire-PRWeb/ — Toufong Lor, founder of the recently created nonprofit; American Veterans Memorial Park announced today the organization has closed on the purchase of 95-acres just south of Cannon Falls, MN in Goodhue County. The land will be developed into one of the largest Veterans Memorial Parks in the United States. A groundbreaking ceremony is scheduled for Saturday, May 7, with construction slated to begin this summer.
The project, set to be completed in phases, is envisioned as a destination attraction. It will eventually feature several miles of bike and hiking trails; an RV Park; a 200-thousand square feet banquet hall and education center; open 365 days a year that is open to the public and can be booked for any event including veterans holiday memorials, weddings and reunions. The center will also display war artifacts and have a small theatre with a seating capacity of 250 for speakers and presentations. In addition, developers will commission the creation of 11 U.S. war memorial monuments strategically scattered around the property. A first-of-its-kind Hmong Soldier War Memorial is also planned to pay tribute and honor to all Hmong-Americans who paid the ultimate sacrifice in battle.
Later, Phase Two of the project will bring athletic fields for soccer, football and lacrosse, along with pickle ball courts and an on-site hotel development.
“This is a project I am extremely proud about,” said Toufong Lor. “This will be a place for all people. We fully expect people from all over the world to visit.”
Toufong Lor explained that his father is the inspiration for this large-scale project. Xia Yeng Lor was born in Laos and worked as a crop and hog farmer before being recruited by the CIA in the early 1960s. U.S. Military in Thailand trained him to help defeat communism during the Vietnam War. Reaching the rank of Senior Commander, Xia Yeng Lor was stationed on the highest peak in Laos to deter attacks on United States Radar and Communications infrastructure. He also served as boots on the ground to help rescue any fighter pilot shot down in the region and rush them to medical assistance. During one such mission he stepped on a landmine and was severely injured in the blast that killed seven of the nine soldiers at the scene. His injuries were so bad that one of his legs needed to be amputated. In 1980 he immigrated his family of nine to Minneapolis.
“My father is my hero. His sacrifices helped to give me and my six brothers a better life,” said Toufong Lor. “There are so many soldiers who gave up so much to ensure American freedom. I hope this park is a place people go to learn and remember those sacrifices.”
The project is located just south of Cannon Falls, a community just 40 minutes from the Twin Cities of Minneapolis and St. Paul. City officials are excited for what the project could mean to their community.
Cannon Falls Mayor, Mayor Jon Atlhoff, a U.S. Air Force veteran, says he is looking forward to the project taking shape. “We expect this park will put our community on the map and bring people to town,” he said. “The scope of the project is robust, and its mission is sincere.”
City Administrator Neil Jensen said he believes the park will bring people to the area and allow them to explore the many things Cannon Falls has to offer. “The economic impact for Cannon Falls is going to be tremendous,” he said. “The plans for this project will make what’s happening here a destination.”
While it may be some time before the project is fully complete, Toufong Lor is confident that when complete the park will be unlike any other.
“This is a labor of love and a tribute to all veterans,” he said. “We cannot wait to transform this property into a venue for all people. It is something that will enhance the area greatly.”
Save the Date:
What: American Veterans Memorial Park Groundbreaking http://www.amvetsmempark.org
When: Saturday, May 7 at 1p.m.
Where: Just South of Cannon Falls off Hwy 52 where CC Rd 14 intersects
Who: Vet Park Founders, City & County Officials and all branches of the US military will be represented and honorably recognized.
Why: A formal groundbreaking ceremony featuring all stakeholders and brief speeches from honored guests. Huey Helicopter landing – adds to this fabulous Photo Opp.
About American Veterans Memorial Park:
The American Veterans Memorial Park located in Cannon Falls, MN will be the largest veterans commemorative park of its kind in North America and is the vision and commitment of founder Tou Fong Lor and his six Hmong brothers. The Lor Family immigrated to the United States and specifically Minnesota in the summer of 1980. Following in his father’s patriotic footsteps, Toufong Lor enlisted serving over a decade in the U.S. Navy and served four tours of duty during the Gulf War. In memory of their father and the freedom they all live under today; the family is dedicated to developing this 95-acre farm field into a massive tribute to all US Veterans.
Robb Leer, Leer Communication & Consultants, 6127010608, firstname.lastname@example.org
SOURCE American Veterans Memorial Park
Blake Harbin Hosting Special Event Today Leading Into U.S. Congress…
MILTON, Ga. (PRWEB)
March 29, 2022
Heading into his run for U.S. Congress for Georgia’s 6th Congressional District, nominee Blake Harbin is hosting a special event tonight, where he will speak about his forthcoming run.
The event will feature Brad Parscale, former campaign manager for President Donald J. Trump, as well as a host committee consisting of Dr. Britt and Copeland Boyd, Tom Pope III, and several others.
The event will take place today from 5:00 PM to 8:30 PM at the Crooked Creek Community Clubhouse in Milton, GA.
Harbin announced his qualification for the ballot to represent the voters of Georgia’s 6th Congressional District earlier this month, after submitting his registration forms outside the Georgia Dome in Atlanta. He’s overcome a great deal to get to this point, but believes that with his approach towards the American dream, it can become a reality.
“I’ve built my life and my home in the 6th district. Raised by a single mother with hardly any resources, I know the importance of community and opportunity and what they can do to help us change our lives. It would be a tremendous honor to help Georgians in the 6th district,” Harbin noted about his run.
“Our great country is under attack. It is headed in the wrong direction and we need to turn it around. Putting America First is not just a policy agenda, it is a mantra for us to do the right thing for our fellow Americans,” Harbin continued. “Only in this country can a boy who grew up with literally nothing work hard to find success. You have to earn it but it is there if you want it. The values this country and this great state were built upon are today under assault, and we need a fighter and a doer in Congress to protect them.”
“I know what adversity is and how it can shape our lives. In 2007, I lost the ability to walk after a tragic fall and had to start life all over. I’ve been knocked down before and know what it takes to get back up again and again. Determination and experience set me apart and I want to use the lessons I have learned to help our residents in the 6th district. I am an outsider. I am not connected to establishment politicians and I don’t commute to our district. I live in it.”
For more than 20 years Blake Harbin has built small businesses in financial management and home mortgages. He has created hundreds of jobs and helped others achieve their dreams saying, “This is the type of track record and experience we need to turn around our state and our country. I am asking the voters to support my candidacy and hire me to work for them. We can all realize the American dream. We all deserve a chance at it.”
For more information please visit: https://blakeharbin.com/
Those interested in reserving a spot at tonight’s event can do so by reaching out to Ryan Caudelle at email@example.com.
CONTACT: Celinda Hawkins at: firstname.lastname@example.org
Hundreds of additional guests at: https://SpecialGuests.com/guests-topics/
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