[ad_1]
Gas prices in Europe have renewed their historical record, reaching $ 1,600 per thousand cubic meters. This is evidenced by the data of the exchange.
So, just a few minutes after the opening of trading, November futures on the index of the most liquid European hub – the Dutch TTF – jumped to $ 1596.8, and then crossed another psychological mark, reaching $ 1607.2 per thousand cubic meters. This is 15.5% higher than the price set the day before.
“There are a number of reasons for the departure of LNG – this is lower production on the line, and an increased demand for air conditioning, and loaded storage facilities, and much more,” Sergei Pikin, director of the Energy Development Fund, explained to The Insider. “How long this will last is a question. Tension is expected until the end of the winter period, its intensity will strongly depend on weather conditions, because they traditionally give decent deviations in gas demand. As the demand is high, the tense situation will be, ”the expert noted.
Gas prices in Europe are growing throughout the year, having almost quadrupled over this period. Among the reasons for the latest rise in prices is Gazprom’s refusal to book additional capacities for gas transit through Ukraine ahead of the launch of Nord Stream 2. Gas reserves in underground storage facilities in Europe remain below last year after a cold winter.
[ad_2]
Source link
