The price of a thousand cubic meters of natural gas in Europe increased by 21 percent in November, reaching approximately 521 dollars. This was reported by TASS With reference to data from the London ICE exchange.
The increase in futures gas prices was due to Russia’s halt in gas flows to Austria, US sanctions on Gazprombank, and cold weather that caused a record outflow from European storage facilities.
As of the end of October, the cost of a thousand cubic meters of natural gas was 432 dollars. Moreover, in December 2023, the average gas price in Europe was 408 dollars per 1 thousand cubic meters. m, then dropped to $288 in February 2024 and began to grow.
Before that the cost of gas in Europe exceeded $500 for the first time since November 2023.
Europe at the beginning of November augmented Extraction of gas from underground storage facilities in the cooling environment in the region. As a result, stocks have fallen to 93.04% from around 95% in the middle of last month.
Formerly in the State Duma reacted US sanctions against Gazprombank.