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Gas prices in Europe set historical record reaching 100 euro per 1 MWh

Headlines 14:09 01 Oct, 2021

Gas prices later decreased by 1.7% to around $1,150 per 1,000 cubic meters

Gas prices in Europe set historical record reaching 100 euro per 1 MWh

Gas prices in Europe once again broke a historic record on Friday and almost reached $1,200 per 1,000 cubic meters, Qazet.az reports citing TASS.

November futures on the TTF hub in the Netherlands at the opening of trading for the first time reached €100 per MWh or $1,199.44 per 1,000 cubic meters.

Gas prices later decreased by 1.7% to around $1,150 per 1,000 cubic meters.

One of the reasons for such sharp growth could be almost 3-fold decline in gas flow through the Yamal-Europe gas pipeline this morning, which later accelerated (4.3-fold), to about 0.5 mln cubic meters per hour (2.2 mln cubic meters per hour the day before).