The price of gas in Europe rose above $2,000 per 1,000 cubic meters during Tuesday, according to data provided by London’s ICE. The total increase in the gas price over the day exceeded 9%, Trend reports citing TASS.
The price of gas futures for September delivery at the TTF hub in the Netherlands went up to $2,062 per 1,000 cubic meters, or 199.5 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).
Gas prices are declining as gas reserves in European storage facilities approach their maximum - now they are already filled by more than 86% in total.
Earlier, the EU countries pledged to fill UGS facilities by at least 80% by the winter of 2022-2023 and by 90% by all subsequent winter periods.
Besides that, in recent days, the share of wind generation in Europe has noticeably increased and now averages more than 14% in September against 10% in August, 12% in July and 9% in September 2021.
Meanwhile, supplies via the Nord Stream has been suspended. On September 2, Gazprom reported that during the maintenance of the last operating Nord Stream gas pumping unit, oil leaks were discovered, until which the holding is forced to completely stop pumping through the gas pipeline. According to information from Siemens, it is possible to fully eliminate the oil leakage on engines only in the conditions of a specialized repair company.
Earlier, Gazprom CEO Alexey Miller, said that Siemens currently has practically no opportunity to regularly repair units for Nord Stream, it simply has nowhere to do it. Western opponents have already issued such a large number of restrictive documents that they themselves got confused in them and fell into their own sanctions trap, the head of Gazprom noted.