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Another record: Gas price in Europe exceeds $1,100 per 1,000 cubic meters

Source : 112 Ukraine

The prices for gas grows amid the low supplies in the European underground gas storages with a shortage of supplies for Russia
11:44, 30 September 2021

Price of natural gas for the population
Open source

The price for gas in Europe at the opening of the trades on September 30 has exceeded $1,100 per 1,000 cubic meters for the first time ever as the ICE reported.

According to the exchange house, the price of October future at the TTF hub in the Netherlands has reached $1073 per 1,000 cubic meters and then sharply grew up to over $1,100.

Related: New blow after Nord Stream 2: All you need no know about Ukraine-Hungary gas scandal

Earlier, Amos Hochstein, Department's Senior Advisor for Energy Security, warned that this winter Europe could face a gas shortage due to its low reserves and potential supply cuts. As of now, the European underground gas storages are occupied less by 70% and it is by 15% lower than the average level during the past five years.

According to him, the volume of supplies of natural gas from Russia has decreased compared to traditional levels. The expert believes that Moscow's actions in the gas market have contributed to the growth of its market prices.

Related: Nadiya Savchenko: If Ukraine doesn't have agreement with Gazprom, we will buy gas at exorbitant price

Earlier, it was reported that the construction of the Russian gas pipeline Nord Stream 2 has been completed. The operator company of Nord Stream 2 project wants to put the pipeline into operation by the end of 2021.

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