Gas prices rose almost 10% on Thursday, December 16, crossing $1,700 for the first time since early October. This is indicated by data from London's ICE exchange.
As of 19:05 (Moscow time), the price of January futures on the TTF hub in the Netherlands increased to $1705 per thousand cubic meters or €145.98 per MWh, TASS reported. By 7:15 p.m. Moscow time, that was down to $1,650 per 1,000 cubic meters, up almost 7 percent from Wednesday's estimated price of $1,545.6.
Thursday morning, it was already above $1550 per thousand cubic meters for the first time since Oct. 6. Overall, Europe experienced a sharp rise in gas prices at the end of summer this year. In August the TTF futures were traded at $515 per thousand cubic meters, and by the end of September their price doubled.
The last reason for the price increase was a statement of the new head of the Ministry of Foreign Affairs of Germany Annalena Berbock about "Nord Stream-2". According to the minister, the pipeline does not yet comply with European norms.