The price of gas in Europe has approached $850 per 1,000 cubic meters. m
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The gas price in Europe was $846.6 per 1,000 cubic meters. m, approaching the mark of $ 850, according to the London Stock Exchange ICE.
The cost of the February gas futures on the TTF hub in the Netherlands opened trading at $773.6 per 1,000 cubic meters. m. As of 19.46 Moscow time it was $846.6 dollars (+11.6%).
Analysts have previously cited significant gas reserves in European underground gas storage facilities (UGS) as the main reasons for the decline in gas prices, as well as high wind energy generation. The relatively warm weather in Europe also played a role.
On December 19, the EU countries agreed on a gas price ceiling of 180 euros per 1 MWh, which corresponds to $1,975 per 1,000 cubic meters. m. As part of the European gas market correction mechanism, it will come into effect on February 15, 2023. The ceiling will be activated if the gas price at TTF (this is the most liquid gas hub in the EU) exceeds the agreed level, and the spread to the price of liquefied natural gas gas (LNG) in the EU will be more than 35 euros per 1 MWh. However, the ceiling will not apply to OTC transactions.
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