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Gas price in Europe up over $2,100 per 1,000 cubic meters for the first time

The price of gas in Europe in the course of exchange trading continues to beat historical records and has already exceeded $ 2,100 per 1,000 cubic meters according to the data of the London stock exchange ICE on Tuesday afternoon.

The price of January futures on the TTF hub in the Netherlands increased to $ 2,120 per 1,000 cubic meters, or 181.47 euros per MWh (based on the current exchange rate of the euro to the dollar, prices for ICE are presented in euros per MWh).

Currently, the cost of gas has accelerated its growth to $ 2,145 per 1,000 cubic meters. The price of gas in Europe has grown by more than 25% during the course of the day. According to Dmitry Marinchenko, Senior Director of the group for Natural Resources and Commodities at Fitch, prices could react to a decrease in pumping through the Yamal-Europe pipeline and news of a possible cold snap in Europe.

Earlier, Gazprom again did not book capacities for the transit of natural gas through Poland via the Yamal-Europe gas pipeline for December 21. As a result, on the morning of December 21, the physical gas flow through the pipeline went in the reverse direction from Germany to Poland.

[Source: Tass, Moscow, 21Dec21]

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