Gas Futures in Europe Up by 13.6%, Almost Reaching $500 per 1,000 Cubic Meters


MOSCOW (Sputnik) – Gas futures in Europe have increased by 13.6%, almost reaching $500 per 1,000 cubic meters, according to data from the London-based ICE exchange on Thursday.

July futures on the TTF index — Europe’s largest hub — opened at $422.2 per thousand cubic meters (-1.3%). As of 08:21 GMT, they were trading at $485.8 (+13.6%). Moments earlier, the price almost reached %500, which marks a 16% increase.

Since 2021, energy prices in the EU have been surging as part of a global trend. After the beginning of Russia’s military operation in Ukraine in February and the adoption of several packages of sanctions against Moscow by the bloc, gas prices have accelerated their growth, placing energy security high on both the global and national agendas and pushing many European governments to resort to contingency measures.
Russia's first liquefied natural gas (LNG) plant on Sakhalin - Sputnik International, 1920, 19.12.2022

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