Spot gas prices in Europe for the first week of autumn added 21%, reaching $142 per thousand cubic meters (in the contract for delivery on Monday at the Dutch hub TTF вЂ” the main platform in Europe).
The achieved level of quotations is the maximum since the end of December 2019 вЂ” that is, until the risk premium for disruption of supplies through Ukraine is removed from the market.
From a historical minimum of $34 per thousand cubic meters, which was recorded on May 21, the price of natural gas has already increased 4.2 times.
Gas prices are growing all over the world: on the American Henry Hub, they rose in August from $65 to $96 per thousand cubic meters, having adjusted to the current moment to $92.
Throughout the summer, the inflow of liquefied natural gas to terminals in Europe declined on an annualized basis: September also began with a decline of 4%.
In the last week of August, the European spot exceeded the $100 per thousand cubic meters mark вЂ” it is believed that the level of break-even of Russian gas supplies to Europe lies behind it. According to Fitch Ratings, the break-even level is $105 per thousand cubic meters, while Sberbank CIB estimates it is $90.