Mowcow, Russia (Weltexpress). The price of gas in Europe exceeded $1,000 per 1,000 cubic meters during trading on Monday for the first time since December 2022, according to data from London’s ICE exchange.
The price of October futures at the TTF hub in the Netherlands rose to around $1,004 per 1,000 cubic meters, or 84.07 euros per MWh.
Meanwhile, spot gas prices at Europe’s main trading hubs had already exceeded $1,000 per 1,000 cubic meters last week. In particular, day-ahead prices at the TTF hub reached $1,005, or 83.685 euros per MWh.
Gazprom noted that the approaching heating season is rapidly reducing the opportunity to replenish gas reserves in Europe’s underground storage facilities, while gas prices have already reached levels seen during the energy crisis in late 2022.
European gas prices are rising amid record-low storage levels ahead of the coming winter and the ongoing conflict in the Middle East.
Russian President Vladimir Putin said earlier that gas prices in Europe could rise as high as $1,500 per 1,000 cubic meters.
