Nov 1, 2021
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Gas price in Europe has jumped

At the opening of trading on Monday, November 1, the price of gas in Europe jumped 11 percent. This is evidenced by the data of the ICE exchange. The price of December futures on the TTF hub in the Netherlands at the opening of trading rose to almost $ 861 per thousand cubic meters.

Prices went up against the backdrop of a halt in fuel pumping through the Yamal pipeline. Pumping dropped sharply on October 30 from 9 am to 10 am Moscow time. Between 10 and 11 am, she stopped completely. The operator also recorded a reverse gas reversal through the pipeline. In “Gazprom”, commenting on the situation with the pumping, they noted that it is taking place in full.

The Yamal-Europe gas pipeline with a length of over two thousand kilometers runs from the Russian Torzhok to the German Frankfurt-on-Oder. It passes through the territory of four states – Russia, Belarus, Poland and Germany.

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