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Gas price in Europe up 57% in one day, rising above $1,600 per 1,000 cubic meters

The price of gas futures in Europe rose to this level for the first time since December 2021

MOSCOW, February 24. /TASS/. The price of gas in Europe surged by 57% during Thursday trading, rising above $1,600 per 1,000 cubic meters, according to data provided by London’s ICE.

The price of gas futures for March delivery at the TTF hub in the Netherlands went up to $1,608.3 per 1,000 cubic meters, or 139.495 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

The price of gas futures in Europe rose to this level for the first time since December 23, 2021.

Russian President Vladimir Putin said in a televised address on Thursday morning that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation. The Russian leader stressed that Moscow had no plans of occupying Ukrainian territories.

On February 21, Russian President Vladimir Putin recognized the sovereignty of the DPR and LPR (the Donetsk and Lugansk People's Republics). Subsequent agreements on friendship, cooperation, and mutual assistance were signed with their leaders.