Price of gas in Europe at a record high level

Price of gas in Europe at a record high level
Price of gas in Europe at a record high level

For the first time in history, the price of gas in Europe exceeds $ 1,000 per 1,000 cubic meters when traded on the ICE exchange.

The value of October futures in the Netherlands is $ 1031.3 per thousand cubic meters per TTF.

Gas prices are rising by more than 11%.

In the autumn, amid rising gas prices, governments in some EU countries began taking emergency measures to limit gas and electricity tariffs.

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, which was aimed at increasing exports to Europe.

In an interview with the Financial Times, the CEO of the Ukrainian gas operator, GTS, Sergey Makogon, said that the rise in prices is an artificially created problem. Makogon noted that Russia's Gazprom is deliberately suspending gas supplies to Europe.

Meanwhile, the construction of the North Stream 2 gas pipeline was completed on September 10th. Russian energy company Gazprom plans to launch the North Stream 2 gas pipeline next month.

The 1,200-kilometer pipeline will supply Russian natural gas to Germany via the Baltic Sea and bypass Ukraine.

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