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Gas price at historic high in Europe

Gas price at historic high in Europe
Gas price at historic high in Europe

Gas futures prices in Europe on Tuesday topped record $2,000 for 1,000 cubic meters minutes after breaking another record of $1,937.

The price of the January futures on the TTF hub in the Netherlands increased to $2,004 per 1,000 cubic meters or 172.52 euro per MWh.

Gas prices in Europe have risen sharply in recent months. As early as the beginning of August, a thousand cubic meters of gas traded at $ 515 at the TTF hub in the Netherlands, a figure that doubled by the end of September.

According to the Financial Times, one of the reasons for the increase in gas prices is that Gazprom refused to supply additional volumes through Ukraine, aimed at increasing exports to Europe.

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