Gas price in Europe reaches $816 per 1,000 cubic meters by end of trading on Tuesday

TASS Russian News Agency | Sep 14, 2021 at 7:09 PM

TASS, September 14. The gas price in Europe reached $816 per 1,000 cubic meters at the close of trading on September 14, according to the trading data of the ICE Exchange.

By the end of trading, the cost of an October futures contract on the TTF hub in the Netherlands accelerated growth and reached $816 per 1,000 cubic meters or 66.765 euros per MWh (based on the current exchange rate of the euro to the dollar, prices for ICE are presented in euros per MWh).

The price of gas in Europe increased by almost $70 per day (or 8.95%), breaking the record for the cost of natural gas.

Experts interviewed by TASS admitted that the price of gas in Europe could reach $1,000 per 1,000 cubic meters under certain conditions. The cost of fuel will depend on the situation on the gas market in Asia, the weather in Europe and the timing of the launch of Nord Stream 2 pipeline.