Gas prices in Europe close to $700

Exchange prices for gas in Europe at the beginning of trading on January 19 demonstrated stability, being close to $700 per 1,000 cubic meters, reported from the data of the London Stock Exchange ICE.

February futures on the TTF index (the biggest hub in Europe located in the Netherlands) opened trading at $718 (+3.7%). then the price of gas fell to $697.6 (+0.8%). The dynamics of prices is based on the settlement price of the previous trading day - $692.3 per 1,000 cubic meters.

Exchange gas prices on January 17 for the first time since August 31, 2021 fell below $600 per 1,000 cubic meters. Experts noted that this is due to warming and an increase in energy generation from the wind.

But despite the current decline, gas prices are more than double the average for a long history of observations. Such persistently high prices have not been seen in the entire history of the operation of gas hubs in Europe - since 1996.





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