European gas crisis has ripple effects throughout the world

Germany has reached the “alarm stage,” which is phase two of the three  emergency methane-based gas plans, after Russia’s Gazprom throttled back deliveries by 60%. Phase three would allow the government to implement energy rationing which is looking more and more likely. As prices rise and supplies are reduced these shock waves can also be seen in other countries as Pakistan faces blackouts as expensive gas prices have forced the country, to decline purchases three times in June. The Australian gas market is in disarray as suppliers scramble to secure gas to meet winter demands and  China is increasing its purchasing of methane gas from Russia, trying to secure cheap prices.



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