GENERICO.ruWorldGas price in Europe exceeded $ 1,700 for the first time in two months

Gas price in Europe exceeded $ 1,700 for the first time in two months


MOSCOW, Dec 16 The value of futures on the European gas market has surpassed the $ 1,700 mark, according to the London ICE stock exchange. At the opening of trading, the quotes prices for the Dutch TTF index slightly exceeded $ 1,540. At first, they fell to about $ 1,450, but in the last hours they turned to growth. At 19:15 Moscow time, the cost reached $ 1,650, which is almost seven percent higher than Wednesday's estimated price of $ 1,545.6. Before that, the securities grew by ten percent, their value exceeded $ 1,700. Thus, the market could react to the words of the head of the German Federal Network Agency (BNA) Jochen Hohmann that the decision on certification of Nord Stream 2 will probably not be made in the first half of 2022 Fuel prices in the forward markets continue to rise. The average price of January futures last month was $ 960, but now, according to RIA Novosti, the same indicator has increased to almost $ 1220. The British urged the Germans to get ready to freeze without Nord Stream 2 Spot contracts are also getting more expensive. If in November the cost of fuel was approaching $ 950, now it is reaching the level of $ 1145. At the end of last week, prices for ICE Futures and Spot TTF have consolidated above $ 1,200 per thousand cubic meters. The European gas market remains unstable. Back in early August, gas supply contracts were traded at $ 515 per thousand cubic meters, but in October the price for them reached a historical maximum of $ 1937. Experts attributed the growth to the low occupancy rate of underground storage facilities on the continent, as well as to high demand for LNG in Asia. Last week, natural gas rose in price by almost ten percent. Rystad Energy, an independent energy research company, attributed this to an unplanned shutdown at the Troll gas field in Norway, after which supplies from there dropped by about 14 percent. And the leap on December 13 was provoked by the words of German Foreign Minister Annalena Berbock that the operation of the Nord Stream 2 gas pipeline cannot yet be coordinated because it does not meet the requirements of European energy law. “Sober look”: the Germans supported Austria in the Nord Stream 2 issue Nord Stream 2 stretches from the Russian coast through the Baltic Sea to Germany and consists of two lines with a total capacity of 55 billion cubic meters of gas per year. Despite numerous US sanctions and opposition from other states, construction of the pipeline was completed in September. The process of certification of Nord Stream 2 (the sole shareholder is Gazprom) as the main pipeline operator is underway. Opponents believe that this is contrary to the updated EU Gas Directive. According to Moscow, by the time the rules were changed, billions of dollars had been invested in the project, taking into account the previous legal situation. In mid-November, the German regulator suspended the procedure, recommending Nord Stream 2 to create a German subsidiary, which will have to re-submit a full set of documents for certification. urged to stop mentioning Nord Stream 2 in the context of any politicization, since it is a commercial project beneficial to both Russia and the European Union. Europe is doomed to pay Russia: it will be expensive

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