The Price of Gas in Europe Exceeded $1,200 for the First Time Since October 18
The price of the January futures on the TTF hub in the Netherlands rose to $1,225 per thousand cubic meters. Compared to the closing price of previous trades, the increase in the cost of gas in Europe amounted to almost nine percent.
It was reported that the extraction of gas from European storage facilities in November, cold for Europe, reached the maximum level in the last five years — 11.2 billion cubic meters. Now consumers have to lift gas from storage facilities, because they cannot buy it at current prices.
At the end of November, the cost of gas in Europe during the auction fell below $ 1,000 per thousand cubic meters. Before that, gas prices in Europe rose to $1,150 per thousand cubic meters for the first time since the end of October. The price of futures rose amid reports that Gazprom did not book additional capacity for December, and Germany suspended the certification of the operator of the Nord Stream -2 gas pipeline.