Gas prices in Europe have risen to the highest level in the last year, reaching more than $ 500 per thousand cubic meters. Such data recorded the ICE London Exchange during November 14. The cost of December futures on TTF Habbi in the Netherlands reached $ 500.5 per thousand cubic meters, which corresponds to 45.9 euros per megawatt-hour. Since the beginning of the day, growth was about 5%.
Record gas prices were the result of rapid growth of selection from European underground storage (PG), which is almost 50 times higher than the rate of pumping. PSGs are currently filled by 92.58%, which is 0.54% more than the average level in the last five years. The volume of gas in storage facilities is 102.76 billion cubic meters, but active consumption on the background of the cold season and the uncertainty of supply requires Europe to replenish in reserves, which also affects prices growth.
Analysts note that this trend can lead to a further increase in prices, especially if the gas needs increase and the panel of repositories will remain low.
