Spot gas price in Europe exceeds $2,300 per thousand cubic meters
10:33 13.08.2022 5742
The spot price of gas in Europe has exceeded $2,300 per thousand cubic meters. The cost of the nearest (September) futures on TTF on the ICE Futures exchange reached $2,311 per thousand cubic meters on Thursday afternoon, while trading started at $2,200, Interfax notes.
Gas prices in Europe are rising due to the limited possibilities of transporting gas through the Nord Stream. Its power was reduced by five times.
European quotes are also spurring rising LNG prices in Asia.
From August 13 until the end of the month, part of the capacities of the Norwegian Troll field and the Kollsnes gas treatment plant will be shut down for annual preventive maintenance. Production capacity will decrease by 20 million cubic meters of gas.
In addition, the Gulf of Mexico is about to enter hurricane season (typically peaking between mid-August and mid-November), which could limit US LNG exports.
Gas price in Europe exceeded $3,300 per 1,000 cubic meters
The spot price of gas in Europe on Thursday evening continued its active growth. A jump in prices at the end of the European trading session is usually the result of the influence of the growth of quotations in the Asian market, Interfax reports.
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