Gas prices in Europe rose by 4% during the last trading day. Data from ICE Futures evidence this.
The cost of December gas futures at the TTF hub in the Netherlands was $ 983 per thousand cubic meters.
The reason for the increase may be the reduction of nominations for gas supplies from Norway to Europe. During the day, they decreased by more than 10% - to 310.9 million cubic meters.
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.
