The price of gas in Europe closed weekly trading on the stock exchange at around $1,080 per 1,000 cubic meters. m, according to the London Stock Exchange ICE. In general, the cost of gas this week increased by a quarter.
The March futures price at the TTF hub in the Netherlands by Friday evening was $1,077 per 1,000 cubic meters. m, or 92.5 euros per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euros per MWh).
The day before, the cost of gas futures in Europe at its peak grew by 61.5% and rose above $1,650 for the first time since December 23, 2021 against the backdrop of Russia conducting a special operation in Ukraine and stopping the certification of Nord Stream 2.
Despite the rise in prices and the aggravation of the situation around Ukraine, Europe is increasing the purchase of Russian gas. The application for the transit of Russian gas through the territory of Ukraine has grown to contract maximums, and Gazprom announced the regular supply of gas for transit to Europe.
Gas is pumped through Nord Stream at the level of 170 million cubic meters per day, which is even higher than the maximum design capacity of the gas pipeline.