Exchange gas prices in Europe approached record levels

MOSCOW, August 28 – PRIME. Exchange gas prices in Europe approached record levels against the backdrop of continued limited supplies of blue fuel from Russia, according to data from the London ICE exchange and gas transmission operators.

The settlement price of gas futures for delivery in September (according to TTF) was $3,507.3 on the last trading day of the week – August 26, which was a record value for the entire period of operation of gas hubs in Europe – since 1996. The indicator for the week rose by about $ 1,000, or almost 40%. At the same time, gas quotes on Friday at the moment reached $3,525.9 and took another step towards updating the historical maximum of $3,892.

The increase in prices on European gas markets is due to the uncertainty regarding gas supplies. In mid-August, Gazprom announced that Nord Stream would stop for three days, from August 31 to September 2, due to scheduled maintenance of the only working gas pumping unit at the Portovaya compressor station.

Now deliveries via Nord Stream are again expected at the level of about 31 million cubic meters, according to the data of the operator Nord Stream AG. Pumping along the highway began to decline from mid-June, as Western sanctions prevent the situation with the repair of turbines from being resolved. Now its loading cannot exceed 20% of the maximum capacity, which is almost 170 million cubic meters per day.

The application for pumping through the gas measuring station (GIS) “Sudzha”, according to the website of the “GTS Operator of Ukraine”, on Sunday is 42.2 million cubic meters. At the level of 40-42 million, the indicator has been holding since the end of May. Deliveries through the GIS “Sohranivka” are not carried out, as Ukraine rejects the application of “Gazprom”.