Gas price in Europe reaches $1,800 per 1,000 cubic meters

Source : 112 Ukraine

Yamal-Europe gas pipeline has stopped and reversed - gas goes from west to east
11:20, 21 December 2021

gas pipeline

The price of gas in Europe has reached $1,800 per thousand cubes on December 21, Interfax Ukraine reports.

"The spot price of gas in Europe reached 1,800 dollars per thousand cubic meters after the information about the stop and reversal of the Yamal-Europe gas pipeline, as well as the fall of wind generation in the region," the statement reads.

It is noted that the price of the nearest (January) futures on TTF on the ICE Futures exchange reached 154.35 euros per MWh, i.e. $1,800 per thousand cubic meters.

Also, Gazprom did not order transit for the Yamal-Europe gas pipeline for Tuesday, December 21. Data from the gas transmission operator Gascade for the first hours of the new gas day confirm that the pipeline has stopped and switched to reverse mode - the gas goes from west to east.

As it was reported, Gazprom refused to book additional transit capacity through Ukraine on November 15, and also did not book the transit capacity of the Yamal-Europe gas pipeline at all.

The spot price of gas in Europe soared to $962 per thousand cubic meters after Gazprom refused to book the Yamal-Europe gas pipeline in December.

Yamal - Europe is a transnational main export gas pipeline, put into operation in 1999 bypassing Ukraine. Its design capacity is 32.9 billion cubic meters of gas per year. It connects the gas fields of northern Western Siberia with consumers in Europe. The Yamal-Europe transnational gas pipeline runs through four countries: Russia, Belarus, Poland, and Germany.

Related: Gazprom reduces gas pumping through Poland for three days in a row

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