Gas prices are rising against the backdrop of a cold snap in Europe, declining wind generation and rising oil prices.
At the beginning of the new working week, the price of natural gas in Europe rose to almost $600 per thousand cubic meters. Western agencies write this on Tuesday, April 4.
So, on Monday, the spot price of gas in the region continued to grow, adding another 9%. The delivery contract at the TTF hub in the Netherlands closed at $588 per 1,000 cubic meters. This is the highest value for the last 22 days.
Gas prices are rising against the backdrop of falling air temperatures in Europe, declines in wind power generation and rising oil prices, market analysts said.
At the same time, the current level of gas reserves in Europe is 55.7%, which is 21% higher than the average for the same dates in the last five years, according to Gas Infrastructure Europe (GIE). On the gas day on April 2 (day off) reserves increased by 0.06%.
European LNG terminals were operating at an average capacity of 58% in March due to a strike at French terminals. For the first days of April, the load was 54%.
Wind power generation in Europe covered 22% of the region’s needs last week, down from 16% on Monday, according to data from the WindEurope association.
It was previously reported that gas extraction from UGS facilities in Europe was at a five-year high. Since the beginning of the heating season on November 14, European countries have spent 50.45 billion cubic meters. m of gas.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.