NEWS

Gas prices in Europe exceed $650 per thousand cubic meters

SEPTEMBER 06, 2021

Gas prices in Europe rose sharply on September 6. The cost of the October futures on the TTF index jumped to 53.68 euros per megawatt/hour. It is about $659 per thousand cubic meters of gas.

Report informs citing Prime, that at 10:57 am (GMT +4), the contract price was 53.68 euros per megawatt/hour. Later, prices moved to a correction, dropping to 52.96 euros per megawatt/hour

In August, gas supplies to Europe declined for several days in a row. The reason was an accident at a Gazprom plant in Novy Urengoy. It created the preconditions for a shortage and a rise in prices.

In early September, Bloomberg, citing analysts, wrote that Gazprom's plans to build up reserves in Russian underground gas storage facilities (UGS) could pose a threat to the market and consumers in Europe, where UGS volumes had previously seriously decreased.

https://report.az/en/energy/gas-prices-in-europe-exceed-650-per-thousand-cubic-meters/