Suspected Deliberate Act Damages Subsea Gas Pipeline and Telecom Cable Linking Finland And Estonia
Portfolio Pulse from Vandana Singh
A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia have been damaged in a suspected deliberate act. The Balticconnector gas pipeline was shut down due to a potential gas leak, and the damaged telecommunications cable raised concerns about regional connectivity. Despite the damage, Finland's energy supply remains stable, and no gas shortages are expected. The incident has caused European gas prices to surge, reaching a six-month high. Finnish telecommunications operator Elisa confirmed that the damaged cable did not disrupt its services.
October 10, 2023 | 6:53 pm
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POSITIVE IMPACT
The incident may cause a short-term increase in the price of Brent Crude Oil due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to increased demand for alternative energy sources such as Brent Crude Oil.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The incident may cause a short-term increase in the price of Natural Gas due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to increased demand for alternative energy sources such as Natural Gas.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The incident may cause a short-term increase in the price of Oil due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to increased demand for alternative energy sources such as Oil.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The incident may cause a short-term increase in the price of Natural Gas due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to increased demand for alternative energy sources such as Natural Gas.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The incident may cause a short-term increase in the price of Natural Gas due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to increased demand for alternative energy sources such as Natural Gas.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The incident may cause a short-term increase in the price of Oil due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to increased demand for alternative energy sources such as Oil.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The incident may cause a short-term increase in the price of Oil due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to increased demand for alternative energy sources such as Oil.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
The incident may cause a short-term decrease in the price of Natural Gas due to concerns about potential gas shortages.
The damage to the Balticconnector pipeline could potentially disrupt gas supplies, leading to decreased demand for alternative energy sources such as Natural Gas.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60