Ezz_steel1
kuwait_steel1
imatal4
Ezz_Web_Banner_Side_280x200
qatar_steel2
banner_7_22_300e2
banner_bahrian_600
banner_bahrian_600

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.

Share on twitter
Twitter
Share on facebook
Facebook

Related News

Ezz-780-1
kuwit-steel3
mih-1

Latest News

About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

Subscribe Newsletter

Contact us

General Secretariat
Tel +21323304221 Fax +21323304254
Mail: relex@solbarab.org

Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: aisucairo@solbarab.org

All rights reserved Arab Iron and Steel Union | 1971 - 2022

Powered by Mohamed Hamed