Exchange prices for gas in Europe are growing by 7%
Exchange prices for gas in Europe on the first trading day of the week are growing by 7%, exceeding $ 800 per thousand cubic meters, according to data from the London ICE exchange.
February futures on the TTF index (Europe's largest hub located in the Netherlands) opened trading at $773.6 per thousand cubic meters (+2%). And their cost as of 10.31 Moscow time is already $ 811.4 (+7%). The dynamics of quotations is given from the estimated price of the previous trading day, Friday, – $ 758.5 per thousand cubic meters.
At the same time, exchange prices for gas in Europe on January 5 for the first time in almost 16 months – from September 10, 2021 – fell below $ 700 per thousand cubic meters. Experts noted that this decrease in gas quotations on the European stock exchange is due to warming and an increase in energy production from wind. Bloomberg reported that the warmest January in recent years is expected.
At the same time, data from the European Wind Energy Association Wind Europe show that energy production by wind power plants in the European Union on Sunday amounted to 31.6% of the total volume – one of the highest figures since 2022, twice the annual average of about 15%.
Despite this, the expert emphasizes that such persistently high prices have not been in the entire history of the operation of gas hubs in Europe – since 1996.
Nury AMANOV
