Exchange prices for gas in Europe, at the beginning of trading on Friday, are growing by about 4%, being close to 780 dollars per thousand cubic meters, according to the London-based ICE exchange.
February futures on the TTF index opened trading at $773.7 (+3.7%). As of 10:04 Moscow time, gas futures are trading at $779 (+4.4%). The dynamics of quotations is based on the estimated price of the previous trading day – $ 746 per thousand cubic meters.
On January 5, gas prices in Europe for the first time in almost 16 months – since September 10, 2021 – fell below $700 per thousand cubic meters. Experts noted that the decline in gas prices on the European stock exchange is associated with warming and an increase in energy generation from wind.
Gas prices in Europe rose significantly in the spring of 2021. At that time gas prices for TTF fluctuated in the range of $250-$300 per thousand cubic meters, by the end of the summer they exceeded $600, and in the fall – already $1,000.
In the winter of 2022, prices crossed the threshold of two thousand dollars per thousand cubic meters, and in early spring, due to fears of a ban on the import of Russian energy resources, they reached a record high of $3,892 per thousand cubic meters.
Such persistently high prices have not been seen in the entire history of the operation of gas hubs in Europe – since 1996.
Recall that earlier, Deputy Security Council Dmitry Medvedev predicted an increase in the cost of gas in Europe in the winter at the end of 2022 at the level of $5,000.
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