Gas price in Europe is higher than $500/thousand cubic meters

The spot gas price in Europe has set another record over the past three years following the rise in gas prices in Asia, Interfax-Ukraine reports.

September futures on the TTF gas hub index on ICE Futures exceeded $500 per thousand cubic meters.

At the auction a day earlier, the spot contract on TTF closed at $484 per thousand cubic meters.

The achieved indicator is the highest in the last three and a half years - since the beginning of March 2018. Then the legendary cold front The Beast from the East raged in Europe, and the price soared to a thousand dollars per thousand cubic meters.

To recap, on July 29, the spot price for gas in Europe increased by 5% in just one day.

As reported, the Senators would block the appointment to the US Treasury because of the Nord Stream 2.

Tags: Gazprom, gas, gas imports, UGSF, gas production, heating season, price, field, natural gas, Europe

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