MOSCOW, January 15. /TASS/. European gas prices exceeded $400 per 1,000 cubic meters during exchange trading on Thursday for the first time since October 8, 2025, according to data from the London ICE exchange. The overall increase since the start of the day is approximately 4%.

The price of February futures on the TTF hub in the Netherlands rose to $400.60 per 1,000 cubic meters, or €33.29 per MWh (based on the current euro-dollar exchange rate, ICE prices are expressed in euros per MWh).

Gas prices in Europe are rising amid a cold snap in the region and increased gas withdrawals from underground storage facilities. Gas reserves in underground gas storage facilities in EU countries have fallen below 53%. Last heating season, this level was only seen in early February. Since the start of the heating season on October 13, EU countries have withdrawn over 38 bln cubic meters of gas from storage facilities. Net withdrawal (the total amount withdrawn exceeds the amount injected) has reached 33.5 bln cubic meters.

Gazprom claims that gas reserves in Europe are approaching a historic low.