The price of gas in Europe has reached a historical record

The price of gas in Europe has reached a historical record

The price of gas in Europe has reached a historical record, breaking the mark of two thousand dollars per thousand cubic meters, according to trading data on the London Stock Exchange ICE.

At the time of publication, January futures for delivery on the Dutch TTF hub was worth 171 euros per megawatt-hour, or 2033.7 dollars per thousand cubic meters. The increase compared to the closing of the previous session was 16.3 percent.

Earlier, on December 21, the gas price had set several local records. In particular, the level of $1,800 per thousand cubic meters was reached for the first time since early October.

The gas price increase in Europe is happening against the background of the cessation of deliveries by "Gazprom" through the pipeline "Yamal-Europe", passing through Belarus and Poland. The fuel began to flow in the reverse direction toward Poland.

"Gazprom" reserved only 21.6 percent of "Yamal-Europe" capacity in the coming days, and also refused to buy additional capacity of the Ukrainian gas transportation system in January.