Maintenance work: New record: gas price rises to 315 euros per MWh BUSINESSPlumley News about 2 hours ago \ The gas price in Europe continues to soar. The futures contract TTF on the energy exchange in Amsterdam, which is trend-setting for European gas trading, continues to rise and reached the record value of 315 euros per megawatt hour on Thursday.
In the past week, natural gas was traded at a peak of just under 241 euros. Within a week, the price has risen by 23 percent. And compared to the previous year, the price of gas has increased almost twelvefold.
Maintenance work On the market, the new surge in gas prices was explained by a renewed interruption in Russian gas supplies to Europe through the Nord Stream 1 pipeline. Russia has announced that it will suspend gas supplies via the Nord Stream 1 pipeline in the Baltic Sea for three days at the end of August. The state-owned company Gazprom announced that no gas would flow from August 31 to September 2 due to maintenance work.
According to Russian information, after the maintenance work, 33 million cubic meters of natural gas will be delivered again every day. This corresponds to the 20 percent of the daily maximum output to which Russia reduced deliveries a few weeks ago.
