Gas price in Europe surpasses $1,400 per 1,000 cubic meters again first since March 24

Business & Economy March 30, 2022, 12:47

The total increase in the gas price since the trading started has reached 13.5%

MOSCOW, March 30. /TASS/. The price of gas in Europe rose above $1,400 per 1,000 cubic meters during Wednesday trading for the first time since March 24, according to data provided by London’s ICE.

The price of gas futures for April delivery at the TTF hub in the Netherlands went up to $1,412 per 1,000 cubic meters, or 123 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

The total increase in the gas price since the trading started has reached 13.5%.

Earlier on Wednesday, it was reported that the German authorities had launched the implementation of an extreme plan against the possibility that Russia’s energy supplies stop.

Moreover, the physical flow of gas via the Yamal-Europe gas pipeline on the German-Polish border decreased to zero on the previous day, according to figures provided by the Gascade gas transport operator. This may be related to equal requests for direct and reverse gas transportation.

Last week, Russian President Vladimir Putin requested moving payments for gas supplies to unfriendly countries to rubles, saying that Moscow would refuse accepting payments on such contracts in discredited currencies, including dollars and euros. Kremlin Spokesman Dmitry Peskov told reporters earlier that Moscow was addressing the details of gas supplies to unfriendly countries for rubles, though it would not engage in philanthropy, delivering gas to Europe for free if the latter refused to pay in the Russian currency.

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