US named most expensive gas market in world

Baku. 27 December. REPORT.AZ/ The spot price of natural gas in the northeast United States has more than tripled, to a maximum of three years, due to increased fuel demand amid cold weather.

Report informs, according to the Bloomberg agency. As a result, this region became the most expensive gas market in the world.

Yesterday, the increase in spot prices was most noticeable in the North-East, since the generation of electricity in the New England States (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont) depends on natural gas more than in other regions of the United States. Gas for New England for delivery the following day Intercontinental Exchange on Tuesday rose to $35,35 per 1 million British thermal units (BTU).

Last week, natural gas consumption in the US was 31% higher than December 22, making 115,7 billion cubic feet. According to PointLogic Energy, the maximum is reached for this time of year for all the observations in 2007.