Gas price exceeds $250 in Europe

The European gas market grew in the new year due to key factors such as colder weather and declining imports, Report mentions, referring to Interfax Ukraine.

The Netherlands' TTF online gas sales platform rose from $244/ 1000 cubic meters yesterday to $253.5 / 1000 cubic meters today, and it is the highest level since January 25, 2019. The average gas price was $202 in December and $ 168 in November.

Gas consumption in underground storage facilities in Europe has increased significantly this winter because it is much colder in Europe than in previous years and its growth is expected to continue in the first half of January. Current reserves, which were 72.54% on January 3, decreased by 4.59% since the beginning of December and by 6.75% since the beginning of the season.

Simultaneously, as a result of changes in the quotas for the supply of Russian natural gas from Ukraine, the daily volume of sales fell from 183 million cubic meters in December to 125 million cubic meters this year.