Natural gas prices in Europe increase 28.6% in 1 week

Suspension of natural gas deliveries via Nord Stream pipeline between Aug. 31 and Sept. 2 contributes to price increases

By Murat Temizer

ANKARA (AA) - The price per megawatt-hour of natural gas in Europe rose by about 28.6% to €283.20 from the closing price on Aug. 15 of €220.11.

The September gas contract price on the TTF, the Netherlands-based virtual natural gas trading venue, opened trading on Monday at €266.75 per megawatt-hour.

The announcement of the suspension of natural gas deliveries via the Nord Stream pipeline between Aug. 31 and Sept. 2 was an instigator for the price increases.

In addition, droughts in Europe due to the extreme hot summer conditions and the persistent increase in demand in the region, which is experiencing a supply shortage, also supported the price increases.

Kaynak:

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