Gas prices in Europe are close to a record

Gas prices on European exchanges approached record levels against the backdrop of reduced supplies from Russia and Gazprom’s announcement of a temporary suspension of the Nord Stream 1 gas pipeline in the near future for a short period.

According to available data, the settlement price of futures contracts for the supply of gas in September (according to TTF) on the last trading day of the week – August 26, reached 3,507.3 US dollars, which is a record value for the entire period of gas exploitation. complexes in Europe since 1996. That figure is up about $1,000 in a week, or about 40%.

Meanwhile, on Friday, gas prices reached $3,525.9 in seconds and took another step towards renewing their all-time high of $3,892.

The reason for such a sharp rise in prices in the European gas markets is related to the prevailing uncertainty about the prospects for the continuation of Russian gas supplies. In mid-August, Gazprom announced that it would stop the operation of Nord Stream-1 for three days, from August 31 to September 2, in connection with the scheduled repair of the only operating gas compressor unit at the Portovaya PS.

Source: RIA Novosti

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