Gas price rises 17% after Nord Stream’s indefinite shutdown

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this natural gas TTF will be delivered next month up to 244.5 euros per megawatt hour, marking an increase of 17.27% (MWh) In the Dutch market this Monday, compared to the settlement price last Friday, shortly before Russian state gas company Gazprom announced that the Nord Stream gas pipeline was closed indefinitely for technical reasons.

price of natural gas fluctuated between a maximum of 283 euro MWh and a minimum of 242 euro in the morning during this session just before closing.

The news comes after the G7 reached an agreement on Monday to set a cap on the purchase price of Russian crude, thereby reducing revenue from the Kremlin, which has responded by threatening to cut oil and gas supplies.

Ursula von der Leyen, president of the European Commission (EC), through her profile on the social network Twitter “Putin it uses energy as a weapon, cutting off supply and manipulating energy markets. won’t make it“.

EC chief announced the intervention of the electricity market last weekIt resulted in a one-week decline in the gas price, and since then the measures to be taken up next Friday at the meeting of Energy Ministers of the European Union (EU) member states have been announced.

Some of the measures Brussels is working on are limiting renewable energy prices and separating natural gas from the electricity market.Setting a price for Russian gas purchases and intervening in the Dutch TTF gas marketreference in Europe.

Thus, the natural gas price regained its uptrend after the last week was marked by downward dynamics and is still 21% below the all-time high of 311 euro/MWh reached two weeks ago.

A year ago, a megawatt hour was paid at 52.4 euros.

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