European gas contracts rose 7%. France is looking for an alternative

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 European gas contracts rose 7%. France is looking for an alternative


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European natural gas futures rose more than 7% in Wednesday's trading amid growing concerns about the continent's shortfall in natural gas supplies and growing concerns among regional leaders about gas shortages.

France plans to secure gas supplies

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  • In this context, French government spokesman Olivier Villan said today that the government is preparing to present a bill next September on ensuring energy supplies.
  • On the other hand, Germany said today that it has decided to take steps to conserve energy to avoid breakdowns or power outages next winter, in light of the ongoing gas crisis.
  • French President Emmanuel Macron stressed the need for Europe to find alternatives to the gas crisis, while considering a visit to Algeria to negotiate some gas supplies.
  • British natural gas futures for September delivery rose 7.75% to 532,670 pence per million British thermal units at 1.44 pm GMT.

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