In Europe, the growth rates of gas futures prices sharply accelerated, they exceeded $ 1000 per thousand cubic meters. m. This on Thursday, January 13, according to the data of the ICE exchange.
The cost of February gas futures on the TTF index at 18:43 Moscow time reached a maximum of $ 1000, after which it decreased slightly, but at 19:07 Moscow time it again exceeded $ 1000.
The growth of quotations to the estimated price of Wednesday was 12.5%.
On December 21, 2021, the exchange price of gas in Europe for the first time in history exceeded the $ 2,000 mark per 1,000 cubic meters. m against the backdrop of the coming cold weather and abnormally low reserves in European underground gas storage facilities (UGS). In the following days, the price corrected against the background of warming in the region, the resumption of wind power and news that an increase in the number of tankers carrying liquefied natural gas (LNG) from the United States to Europe.
Stanislav Mitrakhovich, an expert at the National Energy Security Fund and the Financial University under the Russian government, told Izvestia that the price of futures on the TTF hub is volatile due to a speculative factor and does not reflect the real price of physical supplies to Europe, only a small part of gas is sold at this price …
Valdis Plyavins, an independent energy expert, told Izvestia that forecasts for natural gas supplies to Europe can only be made based on the weather, since it is the weather that is the determining factor at the moment. He stressed that the warm winter calmed the most panicky gas buyers a little, reducing the demand and price from an abnormally high $ 2,000 per 1,000 cubic meters. m to “still high” $ 800-900 per 1 thousand cubic meters. m.