by Ian Page Natural gas prices have risen significantly for a complex of reasons. Either this is the long-term trend we anticipate (peak gas supposed to be 2021/22 some years ago) or just one of those things. However, it gives us an insight into the effects. The UK has relatively high gas prices and high volatility since it is at the end of the Russian pipelines and not in the EU - so shortages such as the current Russian reduction in gas supply, are multiplied since other countries take theirs first. There is some North Sea gas left but it’s diminishing. Finally, the UK gets LNG which is more expensive than piped gas normally because of the energy costs of liquefaction, transport cooling and regasification. In addition, one of the largest gas storage systems was closed last year reducing the strategic reserve and increasing volatility of prices As a result, two of the UK's fertilizer plants closed and grid electricity prices are about to rise significantly. (As a lot of the UKs el...