Gas price in Europe exceeds $3,000 per 1,000 cubic meters

The price of gas in Europe surged above $3,000 per 1,000 cubic meters during Monday trading for the first time since March 8, extending gains amid reports on suspension of supplies via Nord Stream for three days starting August 31 due to the repair of gas compressor unit, according to data provided by London’s ICE, News.Az reports citing TASS. 

The price of gas futures for September delivery at the TTF hub in the Netherlands went up to $3,024 per 1,000 cubic meters, or 292.4 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

The increase in the gas price since the beginning of trading almost totals 20%.

Meanwhile, the price of gas futures for December delivery has approached $3,100.

Last week Gazprom said gas supplies via Nord Stream would be completely stopped from August 31 to September 2 due to the repair of the only gas compressor unit remaining in operation. Upon completion of works and the absence of technical malfunctions of the unit, gas supplies will be resumed at the volume of 33 mln cubic meters per day.


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