The gas price in Europe reached $1,900 per thousand cubic meters.
The trigger for this spike was amid reduced pumping of the Yamal-Europe gas pipeline, and the approach of winter. The nearest (January) TTF futures on the ICE Futures exchange reached EUR 148.87 per MWh, $1921 per thousand cubic meters. Since the end of last week, Gazprom has reduced the modest booking of the Yamal-Europe gas pipeline. A severe drop in air temperature is expected in Europe and Russia this week.