Gas prices in Europe reached $3,500 per thousand cubic meters

The price of gas on stock exchanges in Europe has already crossed the mark of $3,500 per thousand cubic meters.

This is reported by Economic Truth.

The price of gas contracts for September delivery at the TTF hub in the Netherlands rose during trading to €341 per 1 MWh (approximately $3,540 per thousand cubic meters). Prices rose against the background of Gazpromʼs announcement of a complete shutdown of Nord Stream supplies from August 31 to September 2 for maintenance.

• Since June 16, Gazprom has reduced supplies of the Nord Stream gas pipeline to 40% of the nominal capacity, explaining this by the fact that Canada, due to sanctions, did not return the turbine needed for the gas pipeline. Canada made an exception to the sanctions against Russia, repaired the turbine and sent it to Germany, but Russia has not yet taken it back. Against this background, Russiaʼs Gazprom reduced gas supplies through Nord Stream to 20% of the pipeʼs capacity.
• Researchers from NASAʼs Jet Propulsion Laboratory announced on August 11 that Antarcticaʼs ice shelves are melting twice as fast as expected. Nature does not have time to restore the ice.
• The study showed that Russia sends large volumes of natural gas simply into the air. The station, located near the border with Finland, burns about $10 million worth of gas every day.