The Dutch newspaper Volkskrant reports today that the Gasunie, Netherland’s natural gas selling and transportation company, has sold all it’s high energy gas for 2007, and that a run on gas for 2008 and 2009 is already underway. Apparantly the buyers are speculating on rising gas prices. However this leaves a number of clients of Gasunie out in the cold. Amongst them also some major electricity producers who run their plants on gas.
Gasunie stresses that gas for consumers is still in plentiful supply. Consumer quality gas is pumped from Dutch gasfields, the higher quality gas for industry comes from the North Sea, Norway and Russia. However prices are being influenced, and if electricity suppliers can’t run their plants as usual this will be felt by consumers as well.
The article closes with the remark that this speculation and price instability is a foreboding of gas actually running out.
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