30 Sep 2021 13:09

Gas price in Europe tops $1,100 per thousand cubic m

MOSCOW. Sept 30 (Interfax) - The gas price in Europe is continuing to hit daily new highs pending the verdict that winter will pronounce on the failed campaign to inject natural gas into the region's storage facilities.

Gas prices in Europe have recently been having an inseparable effect on Gazprom share prices.

The price of the nearest futures contract on the Dutch TTF spot index for ICE Futures, for November, reached 91.845 euros per MWh or $1,102 per thousand cubic meters on Thursday morning, according to the exchange's data. The average value for day-ahead contracts for September as a whole on the TTF, the main European gas hub, was $759 per thousand cubic meters.

Europe is having to compete for liquefied natural gas with Asia's premium market amid a general gas supply deficit via pipelines and in liquefied form.

Futures on Asian LNG spot index the JKM Platts rose another $23 to reach $1,071 per thousand cubic meters the previous evening. This automatically pushes European prices up to new highs at open of trading.