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European gas prices steadily topping 100 euros/MWh, peaks approaching $1,400/thousand cubic meters
MOSCOW. Oct 5 (Interfax) – The price of the nearest November futures at the Dutch TTF on ICE Futures has been trending upward on Tuesday to steadily above 100 euros per MWh, with peaks approaching $1,400 per thousand cubic meters, according to the exchange’s data.
Trading began at 99 euros per MWh, and the latest transactions are closing at 112-113 euros per MWh. At the current cross-rate, this is $1,350 per thousand cubic meters. The latest peak was 116.185 euros per MWh, or $1,394 per thousand cubic meters.
In September, the average value of a day-ahead contract at the TTF hub in the Netherlands, the main gas site in Europe, was $759 per thousand cubic meters.
Under conditions of an overall shortage of gas supplies via pipelines as well as in liquefied form, Europe has been forced to compete for LNG with the premium market in Asia.
Gas prices in Europe have recently been inextricably affecting the prices of Gazprom shares.
