Gas price in Europe breaches $590 per 1,000 cubic meters mark

Gas price in Europe breaches $590 per 1,000 cubic meters mark

The gas price in Europe breached the $590 per 1,000 cubic meters mark during Monday trading, according to data provided by London’s ICE.

Particularly, the price of gas futures for October delivery at the TTF hub in the Netherlands reached $592, or 49 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh) early on August 30.

Since then, the price has decreased to around $586 per 1,000 cubic meters.

The gas price in Europe reached the peak level of $580 per 1,000 cubic meters and higher last week, though later it lost almost $100 in a couple of days - first amid the false information about the allegedly launched gas supplies via Nord Stream 2, and later after Gazprom’s report about the possible supply of 5.6 bln cubic meters of gas via Nord Stream 2 as early as in 2021.

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