After a statement from Gazprom, gas in Europe is valued at $2,500.
Wednesday, August 17, 2022

After a statement from Gazprom, gas in Europe is valued at $2,500.

Quotations of gas futures on the stock exchange jumped after Russia’s Gazprom announced that it forecasts gas prices at $4,000 per thousand cubic meters in the winter. Quotation of August futures jumped in the TTF hub by more than 8% to the level of €237.8 per MWh, or $2,541 per thousand cubic meters. Contracts for delivery in October-December rose in price to more than €240 per MWh, or $2,575.26 – $2,611.52 per thousand cubic meters. The price increases took place against the background of the statement from the Russian monopolist Gazprom that, according to their conservative estimates, gas prices in the EU will exceed $4,000 per thousand cubic meters in winter.

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