The price of gas on the ICE exchange exceeded $400 per thousand cubic meters
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The cost of a thousand cubic meters of gas for delivery in September on the ICE exchange exceeded $400, an increase of more than 26%, according to the London Stock Exchange.
As of 15:50 Moscow time, a thousand cubic meters of gas cost 39.45 euros per 1 MWh, or $455.6 per 1 thousand cubic meters. m (+26.99%). By 15:55 Moscow time, growth accelerated to 28.28%.
In mid-July, the International Energy Agency (IEA) predicted an increase in spot gas prices in Europe in 2024 by an average of 25% compared to this year, to more than $600 per 1,000 cubic meters. m.
According to the IEA, in the second quarter of 2023, the price of gas in Europe averaged $392.9 per 1,000 cubic meters. m, which is 35% less compared to the first quarter of this year and 63% less compared to the second quarter of 2022. The agency indicates that due to the growth in supplies of liquefied natural gas (LNG) to Europe and significant reserves in underground storage facilities (UGS) at the end of May, the price of gas at the TTF hub in the Netherlands fell below $285.7 per 1,000 cubic meters. m.
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