The price of gas in Europe is close to $700 per 1,000 cubic meters

The price of gas in Europe exceeded $700 per 1,000 cu.m. in the course of trading at the exchange on September 10. This is evidenced by data from the trading platform ICE

The cost of October contract at the TTF hub in the Netherlands on Friday peaked at $701.5 per 1,000 cubic meters, or €57.35 per 1 MWh (ICE prices are in Euro per 1 MWh).

The day before, the gas price in Europe was approaching the level of $700. At the same hub gas was offered for $695 per 1 thou. cu. m. On the same day, Member of Bundestag Jan Nolte said that the launch of Nord Stream-2 would result in lower gas prices due to intensified competition.

As was reported on September 6, the price of gas in Europe could reach $600 by the end of the year. Considering that Norway is reducing gas production, Russia remains one of the few that can increase its supplies to Europe, experts believe.