Natural gas prices hit new record at €322 per megawatt-hour

By Murat Temizer

ANKARA (AA) - Natural gas trading on the TTF - the Netherlands-based virtual natural gas trading point - saw a 67.3% increase to €322 per megawatt-hours at 0833 GMT on Monday as Russian attacks on Ukraine intensified.

Natural gas prices for April futures contracts on the TTF closed at €192.5 per megawatt-hours on Friday.

The rise in natural gas prices was triggered by fears of supply disruptions increased amid the ongoing Russia-Ukraine war.

Concerns that the conflict will result in damage to natural gas infrastructure and the possibility of interrupting gas flow from Russia's bombing and missile attacks against Ukraine are also prompting further price increases.

If the war continues, the likelihood of sanctions being imposed on oil and natural gas exports rises, pushing prices even higher.

€1 equals 14.30 Turkish liras at 0855 GMT on Monday.