Since the beginning of last week, the price of gas on the European market has increased by more than 50% and continues to grow.
The cost of gas in Europe continues to grow rapidly, surpassing on Thursday, August 25, the mark of $3,200 per thousand cubic meters.
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Thus, the September futures price for TTF on the ICE Futures exchange reached $3,236 per thousand cubic meters.
Since the beginning of August, the average price of gas was $2,318, while in July it was $1,764 per thousand cubic meters.
The historical maximum price for gas was recorded on March 7, 2022 – $3898.
Gas is becoming more expensive due to rising LNG prices in Asia, as well as limited work by the main pipeline gas suppliers: preventive maintenance on fields continues in Norway, and the capacity of the Nord Stream gas pipeline is reduced .
Last week, the price of gas in the European market increased by more than $500. At the same time, gas injection into European storage facilities continues on schedule.
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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.