Gazprom export prices up $10 per 1,000 cubic meters, but spot prices $15-20 more expensive; volumes rising
MOSCOW. Oct 17 (Interfax) - The calculated price of Gazprom's gas sales to non-CIS countries in October grew to $170 per thousand cubic meters, up from $160 in September, according to information from the Federal Antimonopoly Service (FAS).
In Q1 2016 the price fluctuated around $200 per thousand cubic meters, hitting a low of $157 in August 2016.
Prices are also rising on European spot markets, exceeding Gazprom's. On Friday the price of gas on the UK's National Balancing Point (NBP) grew to $186, up 24% since the start of the month, while prices on Austria's Baumgarten hub already exceeded $190 per 1,000 cubic meters.
On the basis of preliminary data from European transit operators, Interfax calculations show very strong export growth for Russian gas to Europe in October. For the first two weeks of the month, exports grew around 16%. This corresponds with figures for the first cold winter days.