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Gas prices in Europe jumped above $ 650 per thousand cubic meters

Ukraine / Europe

Russia continued to cut gas supplies via the Yamal-Europe pipeline, as a result of which the volume of hydrocarbons pumped at the entrance to the German gas transmission system halved.

Gas prices in Europe jumped above $ 650 per thousand cubic meters

The exchange price of natural gas in Europe has overcome another psychological level, having risen at trading in the first half of the day on Monday above $ 650 per thousand cubic meters, Interfax reports with reference to the data of the ICE Futures exchange.

Last Friday, USD 632 per 1,000 cubic meters of gas was offered at the exchange.

It is noted that the supply of Russian gas to the European Union has decreased by almost two times compared to the level of Sunday and one and a half times to the level of working days last week. At the moment, the flow of gas at the entrance to the gas transmission system of Germany is 1.5 million cubic meters per hour, while on Sunday it was 3 million, and in previous days - 2.3 million cubic meters per hour.

A new gas year begins in October. Until the end of September, Gazprom has a long-term reservation of transit capacities of the Yamal-Europe gas pipeline. The Russian company has not yet booked the capacity of this line at the past annual and quarterly auctions.

Gazprom's reservation through Ukraine for September has been reduced to the volume of a long-term contract - 109 million cubic meters per day. In previous months, Gazprom bought an additional 15 million cubic meters per day.

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