The spot gas price in Europe on Tuesday exceeded $500 per thousand cubic meters for the first time since the beginning of April this year. This is proven by trade data.
Currently the contract for tomorrow’s delivery reached $506 but was later adjusted to $486. The main reason for this sharp increase was the decrease in electricity production from wind farms in Europe, from 26% last weekend to 10% as of today. Another factor supporting prices is the resumption of strikes at LNG facilities in Australia, experts say.
Gas futures contracts for delivery in November also exceeded $500. One of the reasons for the increase in blue fuel prices was the emergency shutdown of the Finnish Balticconnector gas pipeline last weekend. On Tuesday, Finnish officials announced that they would hold a press conference due to the emergency. As the television and radio channel clarified So, will declare “an alarming change in the security situation in Finland.” Yle noted that Finnish intelligence services and the border agency were involved in the investigation into the incident.
Before that, Estonian seismologists reported Balticconnection reported that no explosion was recorded during the leak in the gas pipeline.
Previously in Finland opened Investigation of the leak in the Balticconnector gas pipeline.