Europe: Gas Price Rises Over $2,100 per 1,000 Cubic Meters

According to the London stock exchange ICE data on Tuesday afternoon, the increase in the gas price has beaten the historical records with a growth of $2,100 per 1,000 cubic meters in Europe.

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For next January on TTF, the gas price in the Netherlands increased to $ 2,120 per 1,000 cubic meters or 181.47 euros per MWh.

During the course of Tuesday, the price of gas has increased by more than 25 percent, accelerating its growth to $ 2,145 per 1,000 cubic meters.

Prices might decrease with a decline of pumping through the Yamal-Europe pipeline and with the news of a possible cold snap in Europe, according to the Senior Director of the group for Natural Resources and Commodities at Fitch, Dmitry Marinchenko.

Previously, Gazprom once again omitted the assignation of transit capacities for natural gas for Poland via the Yamal-Europe gas pipeline on December 21.

Consequently, the physical gas flow through the pipeline went in the opposite direction from Germany to Poland on Tuesday morning, December 21.