Gas prices in Europe grow 4%

Gas prices on the European futures market after its opening increased by 4 percent, reaching $797 per 1,000 cubic meters, according to trading data on ICE Futures, Report informs referring to Prime agency.

The price of October gas futures, according to the Dutch TTF index, the most liquid European hub, slightly decreased, and as of 10:44 a.m. (GMT+4) was at $797 per 1,000 cubic meters.

The price of gas on the European futures market continues to fluctuate. At the auction on Sept. 16, it exceeded $850 per 1,000 cubic meters, and by the end of the auction fell to $764. At the same time, during the trading session on Sept. 15, prices reached $963.9.

Earlier, Dmitry Marinchenko, senior director in Fitch Ratings’ Natural Resources & Commodities team based in London, noted that the dynamics of gas prices will depend mainly on two factors: weather and supplies from Russia’s Gazprom, which may grow after the launch of Nord Stream 2.