The price of natural gas in Europe increased again following the disruption of the flow of Russian imported gas through the key Nord Stream pipeline.
The price of natural gas in Europe increased again following the disruption of the flow of Russian imported gas through the key Nord Stream pipeline.
According to the report, prices on Thursday rose above $1,500 per thousand cubic meters for the first time since March.
July gas futures on the Dutch Energy Exchange TTF rose to $1,504 per thousand cubic meters after closing at $1,367 the previous day.
Analysts at the Danish energy institute Energi Danmark said in a note seen by Bloomberg that price jumps could occur suddenly if there were any new developments regarding Russian gas deliveries.
The European gas market is currently facing a severe shortage of imported energy resources. Russia’s Gazprom’s exports through the Nord Stream pipeline have decreased to around 40% of their capacity due to the lack of parts due to the sanctions.
This situation caused the European Union countries to announce their emergency measures to reduce the use of natural gas this week.
The reduction in European gas imports comes as countries on the Green Continent are competing for storage over the winter, with gas reserves on the continent currently at 55% of capacity, according to data.