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Gas price in Europe reaches almost 1,200 USD per 1,000 cubic meters, - ICE

Source : 112 Ukraine

Under the current contract, the average price at the TTF hub in the Netherlands in September made 759 dollars per 1,000 cubic meters
14:17, 1 October 2021

Price of natural gas for the population
Open source

At the opening of gas market on October 1, the gas price in Europe reached 100 euros per megawatt/h, or 1,197 U.S. dollars per 1,000 cubic meters.

According to the ICE stock exchange, the average contract-defined price at the TTF hub in the Netherlands in September made 759 dollars per 1,000 cubic meters.

The previous record was set on September 30; the gas price on that day made 1,100 dollars per 1,000 cubic meters.

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

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: Gazprom stopped gas transit to Hungary across Ukraine

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