Gas price in Europe reached $1,550 per 1,000 cubic meters amid weak wind generation
17:50 16.12.2021 11923
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.
Raisi: Iran is ready to continue sending Turkmen gas in a swap to Azerbaijan
Iran is ready to continue sending Turkmen gas to Azerbaijan through its territory. Iranian President Ebrahim Raisi stated this on Wednesday at a meeting with President of Turkmenistan Serdar Berdimuhamedov, the Iranian news agency IRNA reported.
President of Turkmenistan holds meeting with Petronas management
President of Turkmenistan Serdar Berdimuhamedov visited the headquarters of Petronas, the country's largest oil and gas company, during his official visit to Malaysia on December 18-19. During the meeting, the head of Turkmenistan discussed with the company's management priority areas of bilateral cooperation, the current state and prospects of partnership between Turkmenistan and Petronas in the energy sector, TDH reports.
Turkmenistan and Malaysia intend to deepen cooperation in the energy sector
Following the official visit of the President of Turkmenistan Serdar Berdimuhamedov to Malaysia on December 18-19 and talks with Prime Minister Anwar Ibrahim, a Joint Statement and a package of documents were signed, TDH reports.
Turkmen-American Business Forum Discusses Promising Areas of Mutually Beneficial Partnership
On December 16, the Turkmen-American Business Forum was held in the building of the Chamber of Commerce and Industry of Turkmenistan, during which issues of bilateral cooperation were discussed, and plans for the near future were outlined.
Turkmen-Vietnamese business forum aims to realize the potential of bilateral cooperation
On June 29, the capital of Vietnam hosted a Turkmen-Vietnamese business forum aimed at developing new solutions and approaches to realizing the potential of bilateral cooperation and building up trade and economic relations between Turkmenistan and Vietnam. This is reported by the website of the Foreign Ministry of Turkmenistan.