The Gas Price in Europe for the First Time Exceed One Thousand Dollars per Thousand Cubic Meters

The cost of the October futures at the TTF hub in the Netherlands approached 1030 US dollars per thousand cubic meters of gas. MEPs suspected Gazprom of manipulating the market. Russia denies this. The price of one thousand cubic meters of gas for the first time in history on the European market exceeded the threshold of one thousand US dollars (about 855 euros). The price of the October futures at the TTF hub in the Netherlands came close to the $ 1,030 mark on Tuesday, September 28. Due to the shortage of gas in Europe, energy exchange prices have increased by more than 250 percent in recent weeks. The cost of electricity has also increased, as it is related to the gas price. The International Energy Agency (IEA), as well as dozens of MEPs against the background of a sharp rise in prices, suspected the Russian state concern Gazprom of manipulating the market. Moscow was skeptical of such accusations. The US administration intends, together with European partners, to monitor cases of possible manipulation of prices for gas supplied to Europe. At the same time, the German government saw no reason to blame Russia for the increase in gas prices in Germany. DW