Energy: European natural gas price rises towards 200 euros

The price of European natural gas rose significantly on Tuesday.

Energy: European natural gas price rises towards 200 euros

The price of European natural gas rose significantly on Tuesday. The fact that several leaks were discovered on the two gas pipelines Nord Stream 1 and 2 provided a boost. In the morning, the TTF futures contract for Dutch natural gas rose to around 194 euros per megawatt hour. That was about 12 percent more than the day before. Most recently, the price was 190 euros. The TTF contract serves as a benchmark for the price level on the European natural gas market.

As Danish authorities announced on Tuesday, a total of three leaks were discovered in the two gas pipelines that run from Russia to Germany. The cause is so far unclear. The operating company Nord Stream described the damage as "unprecedented" and was unable to specify when operation could be possible again.

At the end of August, Russia stopped deliveries via Nord Stream 1 for allegedly technical reasons. Critics accuse Russia of intentionally cutting off supplies and using natural gas as a political weapon. Nord Stream 2 did not go into operation because of the Ukraine war.

Yorum yapabilmek için üye girişi yapmanız gerekmektedir.

Üye değilseniz hemen üye olun veya giriş yapın.

NEXT NEWS