Gas price rises to $ 258 in Europe

Prices in the European natural gas market are at their highest level in 23 months.

Today's futures at the TTF online gas sales center in the Netherlands were sold at 258 USD / 1000 cubic meters, which is the highest price since January 25, 2019.

The cold winter in Europe has led to an increase in consumption from underground gas storage facilities. Thus, on January 7, 990 million cubic meters were consumed from storage facilities, which is the fifth-largest consumption in the European gas industry's history.

On January 7, the level of filling of underground gas storage facilities was 69.3%. It is 0.98% more than the average of the previous five seasons, while at the beginning of the current season, the difference was 6.75%, and at the beginning of December - 4.59%.

On the other hand, the gas volume supplied to the European gas network through LNG terminals is 46 percent less than in January 2020.