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SP-1 closure: European gas prices jump

Last week, gas prices dropped below $1,900, but due to the uncertain shutdown of SP-1, it immediately jumped 30%.

Gas prices in Europe rose sharply at the beginning of the week against the backdrop of the shutdown of Nord Stream-1, according to trading data on Monday, September 5.

The price of October futures in TTF on the ICE Futures exchange rose to $2,855 per thousand cubic meters (+30%), despite the fact that on Friday trading closed at $2,200.

Recall that after a three-day break for maintenance, gas pumping through Nord Stream did not resume on September 3, as originally planned. Gazprom cited an oil leak at the Portovaya compressor station as the reason.

Siemens Energy said that the oil leak cannot serve as a technical reason to terminate the operation of the Nord Stream 1 gas pipeline.

It should be noted that on September 2, the price of gas in Europe fell below $1,900.

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Source: korrespondent

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