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Gas reaches an all-time high in Europe, $ 540 per 1,000 m³

Source : 112 Ukraine

August 6, the price of gas in Europe jumped by $ 20 per day
13:13, 7 August 2021

Open source

August 6, the price of gas in Europe jumped by $ 20 per day, reaching a historic record of $ 540 per 1,000 cubic meters. Kommersant outlet reported this.

This situation on the market developed after a fire at the Gazprom plant in Urengoy, in the Yamal-Nenets Autonomous Okrug, which led to a decrease in gas transit through the Yamal-Europe gas pipeline.

September gas futures on the TTF index on the ICE exchange at 12:00 was traded at the maximum price - 44.65 euros per 1,000 kWh.

August 5 the gas price in European markets reached a new maximum - $ 520 per 1,000 cubic meters.

Related: Gazprom reduces gas injection into largest storage facilities in EU

By the evening of that day, gas supplies via the Yamal-Europe gas pipeline had more than halved amid an accident at the Urengoy plant for preparing condensate for transportation in the Yamal-Nenets Autonomous Okrug.

According to the data of the German gas transmission operator Gascade, most of the day, deliveries at the entrance to the German gas transportation system amounted to 2.1 million cubic meters per hour, and from about 5 pm smoothly went down. From 6 pm to 7 pm Moscow time, the volume of gas pumped amounted to only 1 million cubic meters.

As reported before, Cabinet of Ministers of Ukraine approved the energy security strategy by 2025. The document identifies 29 key threats to energy security. These include both external risks - cyber threats to critical energy infrastructure facilities, aggression from the Russian Federation, and internal - possible incomplete integration with the EU electricity and gas supply systems, deterioration of fixed assets, lack of energy reserves, and alike.

Related: Naftogaz exploring options for alternative gas supplies to Ukraine

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