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Post: Gas prices in Europe exceeded $800 per thousand cubic meters


A pipeline designed to transport Russian gas to the EU. archive photo

Gas prices in Europe increased by seven percent, exceeding $800 per thousand cubic meters.

MOSCOW, January 9 – RIA Novosti. According to the London Stock Exchange, on the first trading day of the week, foreign exchange gas prices in Europe increased by 7% to exceed $800 per thousand cubic meters. ICE.

February futures on the TTF index (Europe’s largest headquarters are located in the Netherlands) traded at $773.6 per thousand cubic meters (+2%). And as of 10.31 Moscow time, their cost is already 811.4 dollars (+ 7%). The dynamics of the quotations are based on the settlement price of the previous trading day, Friday – $758.5 ​​per thousand cubic meters.

At the same time, on January 5, foreign exchange prices of gas fell below $700 per thousand cubic meters for the first time in nearly 16 months – since September 10, 2021 – in Europe.

Experts pointed out that the decrease in gas prices in the European stock market is related to the increase in heating and wind energy production. Bloomberg reports that the warmest January in recent years is expected, and data from the European Wind Energy Association Wind Europe shows power generation from wind farms in the European Union was 31.6% of the total on Sunday – the highest since 2022. somebody. twice the annual average – about 15%.

Gas prices in Europe rose significantly in the spring of 2021. Then gas offers for TTF fluctuated in the range of $ 250-300 per thousand cubic meters, but by the end of summer they exceeded $ 600, and in the fall – already $ 1,000. In the winter of 2022, prices crossed the threshold of $2,000 per thousand cubic meters and reached a record $3,892 per thousand cubic meters in the early spring due to fears of bans on imports of Russian energy sources.

Despite the current decline, gas prices are more than double the average for a long history of observation. In the entire history of operation of gas distribution centers in Europe since 1996, such persistently high prices have not been seen.

Source: Ria

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