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Gas price rises after Gazprom's statements about possible transit cuts through Ukraine

The price of December futures at the TTF hub in the Netherlands rose to $1,282 per 1,000 cubic meters, or 120.595 euro per MWh

MOSCOW, November 22. /TASS/. The price of gas in Europe rose by 2.2% following Gazprom's statement about a possible reduction in transit through Ukraine from November 28, according to London’s ICE.

The price of December futures at the TTF hub in the Netherlands rose to $1,282 per 1,000 cubic meters, or 120.595 euro per MWh.

Gazprom said earlier that the company takes note that Russian gas that is expected to be supplied to Moldova via Ukraine "ends up" in Ukraine and will start reducing gas supplies for transit if the imbalance remains. "Gazprom records that Russian gas intended for supplies to Moldovan consumers under the contract with Moldovagaz settles in Ukraine. The volume of gas supplied by Gazprom to Sudzha gas metering station for the transit to Moldova via the territory of Ukraine is above the physical volume transferred on the border of Ukraine and Moldova. Moldovagaz paid for a portion of November deliveries to Gazprom under the contract on November 21. The volume of actually supplied Russian gas with the breached payment for current deliveries in November is 24.945 mln cubic meters of gas. The cumulative total volume remaining in the territory of Ukraine is 52.52 mln cubic meters," the company said.

"If the transit imbalance via Ukraine remains for Moldovan consumers, Gazprom will start reducing gas supplies to Sudzha gas metering station on November 28 from 10:00 am in the volume of daily short supply," the company added.