Gas prices in Europe skyrocketed again

Reduced volumes of natural gas pumped through the Yamal-Europe gas pipeline and unfavourable weather conditions contributed to a spike in gas prices in Europe, Interfax-Ukraine reports.

The price of the January futures on TTF on the ICE Futures exchange reached €148.87 per MWh, $1921 per thousand cubic meters. Since the end of last week, Gazprom has reduced booking of volumes for the Yamal-Europe gas pipeline.

Also, Europe is expecting a serious drop in air temperature this week.       

To recap, Moldova will store gas stocks abroad.

As reported, gas stocks in Germany's underground storage facilities collapsed to historic lows.

Tags: Gazprom, contracts, GTS, RF, heating season, Gas market, pipeline, price, gas supplies, volumes, natural gas, Europe

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