The price of gas in Europe has exceeded $1100 per 1,000 cubic meters

The gas price at hubs in Europe has reached $1100 per 1,000 cu.m., according to data from the London-based ICE. This is evidenced by data from the London Stock Exchange ICE.

The cost of gas with delivery in November at the TTF gas transportation hub in the Netherlands has reached $1101.6 per 1,000 cubic meters. Since the beginning of the day the gas price growth is about 5%.

A couple of hours ago the price of gas futures in Europe reached $ 1073 per 1,000 cubic meters.

On September 29 the gas price in Europe exceeded $1060 per 1,000 cubic meters. The day before the gas price went up to $1031.3 per 1,000 cubic meters.

Since the spring of 2021 gas prices in Europe jumped four times, reaching up to $1,000 per 1,000 cubic meters, thus setting a historical record.

One of the main reasons was the low supply in the European underground gas storages (UGS), as well as the acute shortage of liquefied natural gas (LNG)