Overall, the value of natural gas since the beginning of trading on the London ICE exchange has grown by almost 7%.
Natural gas in Europe is rising again in price and its value exceeds $ 1,900 per 1,000 cubic meters. m for the first time since March 9. This is confirmed by data of the London ICE exchange on Thursday, July 7.
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Thus, the price of August futures at the TTF hub in the Netherlands rose to $ 1,926 per 1,000 cubic meters. m, or 182.65 euros per MWh (based on the current euro/dollar exchange rate, ICE prices are shown in euros per MWh). Overall, the cost of gas since the beginning of trade has risen by almost 7%.
Today the price of gas is influenced by many factors. Thus, the American company Freeport LNG reported that it expects to partially resume operation of a large gas terminal only in early October after a fire and explosion in June. The capacity of Freeport LNG businesses is estimated at 15 million tons of LNG per year. This represents approximately 16% of all US exports.
The cost of gas was also affected by the decline in supplies from Russia, including through the Nord Stream gas pipeline. On June 14, Gazprom reduced deliveries through it, allegedly due to the untimely return of Siemens ’gas pumping units after repairs. As a result, 40% of the gas from the pipeline’s maximum capacity is currently pumped through the Nord Stream. And from July 11 to July 21, gas exports through the gas pipeline will stop completely due to the annual scheduled adjustment.
The brief strike by oil and gas industry employees in Norway, one of the largest gas suppliers in the EU, also led to higher prices.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.