Gas price surges to a record high in Europe on supply concerns

[BHAN85]

Gas price surges to a record high in Europe on supply concerns
PUBLISHED TUE, OCT 5 2021

LONDON — Natural gas contracts hit new highs in Europe on Tuesday, as soaring prices continue to put pressure on the region’s energy sector ahead of the winter period.

November contracts at the Dutch TTF hub — a European benchmark for natural gas — were trading at around 118 euros per megawatt hour (MWH) just after midday in London. The front-month contract was up almost 19% on the day, setting a new record high, and has risen almost 400% since the start of the year.

Gas price surges to a record high in Europe on supply concerns

Natural gas contracts hit new highs in Europe on Tuesday, as soaring prices continue to put pressure on the region's energy sector ahead of the winter period.

www.cnbc.com

American source of news, as European sources says little or nothing about that (that is called press freedom).

 

[Sulman Badshah]

Producers need to increase the production of crude and gas to maintain the prices

 

[BHAN85]

Is it a production problem or a distribution problem?

According to a recent report from Saxo Bank, the start of operations by Nord Stream 2 in the fourth quarter of this year could drive natural gas prices in Europe down to historic lows.

Gas price in Europe soars above $1,900 per 1,000 cubic meters

European gas prices broke new record highs on Wednesday, rising sharply to above $1,900 per 1,000 cubic meters. That is equivalent to $186 per megawatt-hour in household terms.

www.rt.com

By the other side, Algeria and Morocco will close gas pipeline to Spain in the end of this month (after 25 years working), due to political reasons between Algeria and Morocco.

Algeria-Morocco standoff threatens Spain gas supplies - France 24

Algeria-Morocco standoff threatens Spain gas supplies

www.france24.com