The price of blue fuel is rising ahead of the announced three-day shutdown of Nord Stream for repairs.
The price of September futures for gas in the Netherlands on the TTF hub by the morning of August 25 increased by 7%, becoming equal to $ 3280 per thousand cubic meters, according to data from London Stock Exchange ICE at 10:10 Moscow time.
It is said to be an ongoing price growth, which is due to an increased demand for energy resources in anticipation of suspension of supplies through the Nord Stream gas pipeline for three days, starting from August 31.
Gazprom warned about this last week.
Increased demand due to the heat wave is also pushing up the price. Europeans have become more reliant on air-conditioning systems that run on electricity generated by gas-fired power plants.
Not the least of the worsening conditions is the difficulty in delivering coal and diesel fuel due to the reorientation of markets to other countries.
Now, according to the European Commission, there is the worst drought in 500 years, forcing more use of electricity.