Gas price in Europe exceeds $800

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
11:35, 14 September 2021

Price of natural gas for the population
Open source

The price for gas in Europe has exceeded $800 per 1,000 cubic meters and set a record during the trades. The price grows amid the low supplies in the European storages, according to London ICE.

According to the house, the price of October futures at TTF hub in the Netherlands reached $801.2 for 1,000 cubic meters.

Related: Ukraine to buy expensive import gas as its own production decreases, - expert

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: Accumulated gas reserves in underground storage facilities reached 19 bcm,- Naftogaz CEO

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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