Gas price in Europe shows growth again

Trading on Wednesday showed an increase in gas prices in Europe. Bidding started at $1,250 per 1,000 m3. The price then dropped to $1,243. Then there was an increase of more than 14% and amounted to 1411 dollars 70 cents. Since the military operation by the Russian troops on the territory of Ukraine, there has been increased volatility in the European gas market. At the beginning of March, a record price for 1000 mm3 of gas was set in Europe. The price rose to $3,892. Tensions increased after the announcement of the Russian authorities regarding the payments for the supplied gas. Since April, Gazprom has been accepting payments only in Russian rubles. EU countries put forward a refusal. Problems in the gas market began a year ago. Prices gradually began to rise. Then the experts established three reasons for this phenomenon. First of all, it is the growth of LNG prices in the Asian region. There was also a decrease in gas supplies. A negative factor was the insufficient filling of storage facilities.

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Arseny Kudrin

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