Energy

The price of gas reached a historic high last week on the Ukrainian Energy Exchange

Tuesday, July 6, 2021

— $563 for 1,000 cubic meters. The Exchange cites a myriad of reasons for high prices: low stocks; insufficient supplies from Russia; supply disruptions from Norway; LNG cargoes diverted to Asia and the record cost of EU carbon emissions quotas. Yesterday, the price at the Netherlands TTF hub was $441/1,000 cubic meters, a 13 year high.

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Starting from October 1st, Russian gas will flow to Hungary via Turkey and Serbia, bypassing Ukraine.

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Gazprom did not book extra capacities offered yesterday by Ukraine and Poland to ship Russian gas to the EU during the next ‘gas year’, which starts on October 1, 2021

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