European benchmark futures, which have doubled in value over the past month, posted their longest daily gain in more than nine months on Thursday.
Higher prices combined with tight supply put companies like Uniper SE at risk. Germany’s biggest buyer of Russian gas is in talks with the government for bailouts as it struggles to honor supply contracts amid soaring prices. Habeck said the situation could create „cascading effects” for Germany’s energy system.
European gas prices continue to rise amid concerns about Russian flows.
The turbine, built in Canada by Siemens Energy AG, was sent to Montreal for repairs but stalled due to sanctions on the Russian oil and gas industry announced by Prime Minister Justin Trudeau’s government last month. Recognizing the legal obligations created by Canadian sanctions, the Vice Chancellor proposed a workaround.