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Gas prices in Europe hit record levels for the first time in 5 months

Gas prices in Europe hit new record levels, for the first time in 5 months, amid continued uncertainty in global markets.

The price of gas in Europe rose above $2,500 per thousand cubic meters during trading Tuesday (August 16), for the first time since March, according to data provided by the London Stock Exchange and reported by the Russian TASS news agency.

Gas futures prices for September delivery rose in the Dutch TTF center (the main reference for gas prices in Europe) to 2501 dollars per thousand cubic meters, or 238.765 euros per megawatt-hour.

On March 7, the price of spot gas in Europe reached about $3,900 per thousand cubic meters, for the first time in history, according to information seen by the Specialized Energy Platform.

Winter gas price forecast

In this context, the Russian company Gazprom confirmed that it does not rule out that gas prices in Europe during the winter season may rise above the record of 4 thousand dollars per thousand cubic meters.

“We would like to note that in spot transactions in Europe gas prices exceeded $2,500… According to conservative estimates, if this trend continues, prices will exceed $4,000 per 1,000 cubic meters in winter,” Gazprom said, according to TASS.

Earlier, the spot price of gas in Europe on the London Stock Exchange exceeded $2,450 per thousand cubic meters, for the first time since March 8.

The latest price jump follows higher spot gas prices in Asia, the closure of several gas production and transmission facilities in Norway for scheduled repairs until the end of August, as well as rising temperatures and declining wind generation in Europe.


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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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