The Times says the decision by Russia not to reopen the Nord Stream pipeline is likely to “renew the turmoil” in the European gas market.
The Financial Times also believes the Nord Stream closure will exacerbate fears about gas supplies. It quotes an expert in energy issues that Europe needs to prepare for a winter with no Russian gas, and its key priority must be “reducing gas and electricity demand”.
The Daily Mail notes that the sale of oil and gas “adds an estimated £700 million a day to the Kremlin’s coffers”- and is being used to “bankroll the bloodshed in Ukraine”.
The Daily Telegraph says that Liz Truss could set out her plans to tackle the energy crisis to ministers within 24 hours of taking office – if she becomes the new prime minister. According to the paper, she’s considering a VAT cut and an end to the moratorium on fracking.
In its leading article, The Financial Times says if she wins, Ms Truss’ first job will be to cushion the impact of soaring energy costs. It…