Gas price in Europe reached $1,550 per 1,000 cubic meters amid weak wind generation
17:50 16.12.2021 12128
The spot price of gas in Europe with the opening of trading on Wednesday, December 15, continued to rise amid a weak contribution of alternative energy sources, an increase in prices in competing markets and a more severe than previously expected weather forecast in the region, Interfax reports.
On Wednesday morning, the price of the nearest (January) futures on TTF on the ICE Futures exchange reached 132.995 euros per MWh, that is, $1550 per thousand cubic meters. In November, the «day ahead» contract was traded on TTF at an average of $945, in December - $1182 per thousand cubic meters. Since the beginning of the year, the average contract value has reached $518.
In Europe, the production of electricity from renewable sources has fallen sharply. On Monday, the contribution of wind generation to electricity generation in Europe was only 10.1%, on Tuesday and even less – only 9.9% (with an average value of 15.6% in the week of December 6-12), according to data from the WindEurope association.
The current level of gas reserves in underground storage facilities in Europe reached 61.9% of their maximum capacity (data as of Monday morning) – this is 16.8 percentage points below the average over the past five years, according to data from Gas Infrastructure Europe.
State visit of the President of Turkmenistan to Tajikistan begins
President of Turkmenistan Serdar Berdimuhamedov arrived on Wednesday on a two-day state visit to Tajikistan, following the talks, it is planned to sign a package of bilateral documents, TDH reports today.
Extraordinary meeting of the Halk Maslahaty of Milli Gengesh will be held on February 11
Extraordinary meeting of the Halk Maslahaty of the Milli Gengesh of Turkmenistan is scheduled to be held on February 11. This is provided for by the decree of President Gurbanguly Berdimuhamedov, who heads the People's Council – the upper house of the parliament of our country.
Oil price breaks seven-year records on supply worries
Oil prices continue to rise on Wednesday, renewing the highs since 2014 due to the risks of supply disruptions from the Middle East, Interfax reports.
Demand for oil in 2022 will grow by 3.3 million barrels per day, the market will be in short supply – IEA
Demand for oil in 2021 increased by 5.5 million barrels per day, and in 2022 it will increase by 3.3 million bpd, Interfax and Bloomberg report citing a report by the International Energy Agency (IEA).
Products of Turkmennebit and Turkmenchemistry have become the subject of foreign exchange transactions at the auction
69 transactions were concluded at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.