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Gas price in Europe reaches around $500 per 1,000 cubic meters

Gas prices in Europe nearly halved in the spring to roughly $282 per 1,000 cubic meters, owing to a large amount of gas in storage, record liquefied natural gas supply, and mild weather

MOSCOW, June 15. /TASS/. The price of gas in Europe on Thursday reached around $500 per 1,000 cubic meters, according to London’s ICE.

The price of July futures at the TTF hub in the Netherlands rose to $499 per 1,000 cubic meters, or 44.59 euro per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euro per MWh).

Gas prices in Europe nearly halved in the spring to roughly $282 per 1,000 cubic meters, owing to a large amount of gas in storage, record liquefied natural gas supply, and mild weather. Thus, storage capacity is more than 72% filled, and LNG supplies from terminals into Europe's gas transmission system in May reached an all-time high at 12.16 bln cubic meters.