Denmark Declares "Early Warning" To Prepare For Gas Disruptions

Reuters: "The Danish Energy Agency has activated the first step of a three-stage emergency gas supply place, which effectively means a tighter monitoring of the market, to prepare for possible disruptions of natural gas from Russia."

• Danish Energy Agency: "Early warning means that a situation with a significantly deteriorating gas supply situation may arise. It is a signal to the players in the gas market to prepare for a real supply crisis."
• The step is the first out of three in an emergency plan, which if escalated could lead to the implementation of gas rationing to industry users.
• On Thursday, Troels Ranis of the Confederation of Danish Industry cautioned: "Denmark is dealing with a natural gas provision catastrophe that could cause a hike in local output prices and the closing of lots of firms"
• He continued: “Make no mistake, we are in a very serious situation and we may end up in a real gas supply crisis. And that means that companies that are not protected risk being closed down completely, and it can be costly.”