Gas prices in Europe rose 1.4% during the last trading day, taking into account the change in the euro and the dollar exchange rate. Data from ICE Futures evidence this.
The price of December gas futures in the Dutch TTF hub during the trading day exceeded $ 1,185 per thousand cubic meters; however, at the end of the trading day, it stabilized and decreased to $ 1,115.
The growth was sharply boosted after reports that German regulators suspended the North Stream 2 pipeline certification.
Gas prices in Europe have risen sharply in recent months. As early as the beginning of August, a thousand cubic meters of gas was traded at $ 515 per thousand cubic meters 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 was the fact that Gazprom refused to supply additional volumes through Ukraine, which was aimed at increasing exports to Europe.
According to Russian President Vladimir Putin, Gazprom will fulfill its contractual obligations to European consumers and create a more favorable situation for the European energy market.
The 1,200-kilometer pipeline will supply Russian natural gas to Germany via the Baltic Sea and bypass Ukraine.
Through North Stream 2, 55 billion cubic meters of gas will be supplied annually.
