Gas price in Europe surpasses $2,300 first time since early March

  27 July 2022    Read: 510
  Gas price in Europe surpasses $2,300 first time since early March

The price of gas in Europe during trading rose above $2,300 per 1,000 cubic meters for the first time since March 8 on Wednesday amid a reduction in pumping through the Nord Stream, according to the data of London’s ICE, AzVision.az reports citing Anadolu Agency. 

The price of August futures at the TTF hub in the Netherlands rose to $2,307 per 1,000 cubic meters or 220 euro per MWh.

On Monday, Gazprom announced the forced shutdown of another gas turbine engine at the Portovaya compressor station. As a result, from July 27, gas pumping through the Nord Stream will drop by half to 20% or 33 mln cubic meters per day from the current 67 mln cubic meters. Thus, only one turbine will remain in working condition.


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