Gas prices in Europe exceed $3,000 per 1,000 cubic metres

The gas price in Europe during trading on August 22 exceeded $3,000 per 1,000 cubic metres for the first time since March 8, growing amid the information about the suspension of supplies via Nord Stream for three days from August 31 due to the repair of the unit.

The cost of September futures at the TTF hub in the Netherlands increased up to $3,024 per 1,000 cubic metres or 292.4 euros ($292.43) per MWh (proceeding from the current EUR/USD exchange rate, ICE prices are indicated in euros per MWh), TASS reports referring to the data of the London Stock Exchange.

The overall increase in the cost of gas since the beginning of trading is almost 20 per cent.

The cost of December futures has reached $3,100.