Photo: Naftogaz
Gas has risen in price to an unprecedented level for the summer
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The level of gas prices is the highest in the last three and a half years – since the beginning of March 2018.
Natural gas prices in Europe continue to rise and reached $ 555 per thousand cubic meters at trading on Wednesday amid a decrease in supplies from Russia due to an accident at a Gazprom plant. It is reported by Interfax Wednesday, August 11th.
“The value of the futures contract closest to the spot quotes – the September futures on the TTF gas hub index on ICE Futures – reached 45.795 euros per thousand kWh, or $ 555 per thousand cubic meters,” the message says.
The achieved indicator is the highest in the last three and a half years – since the beginning of March 2018. Then Europe was covered by the cold Beast from the East, and the price soared to a thousand dollars per thousand cubic meters.
From the day a large-scale accident at the Urengoy plant of Gazprom On August 5, supplies at the entrance to the German gas transmission system averaged about 1.5 million cubic meters. m per hour. On Wednesday, the physical flow of gas through the pipeline decreased even more – to 0.8 million cubic meters.
Due to the fire, the plant completely stopped accepting raw materials – this led to a significant decrease in Gazprom’s production. The company had to urgently start sampling from underground storage facilities in Europe and Russia. The physical supply of gas for export through the Yamal-Europe gas pipeline, which is located in the same gas transportation corridor as the emergency plant, has decreased.
Gazprom created gas shortage in Europe – GTS
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