- Sputnik International, 1920
Energy Crisis in Europe
Europe is bracing for tough winter as US-led push to “punish” Moscow for its military operation in Ukraine backfired on the EU, which has faced months of skyrocketing energy prices and rising inflation after Brussels joined Washington in attempting to “phase out” Russian oil, coal and gas.

Gas Futures in Europe Up by 13.6%, Almost Reaching $500 per 1,000 Cubic Meters - ICE

© AP Photo / Michael SohnSteam leaves a cooling tower of the Lichterfelde gas-fired power plant in Berlin, Germany, on March 30, 2022.
Steam leaves a cooling tower of the Lichterfelde gas-fired power plant in Berlin, Germany, on March 30, 2022.  - Sputnik International, 1920, 15.06.2023
Subscribe
MOSCOW (Sputnik) - Gas futures in Europe have increased by 13.6%, almost reaching $500 per 1,000 cubic meters, according to data from the London-based ICE exchange on Thursday.
July futures on the TTF index — Europe's largest hub — opened at $422.2 per thousand cubic meters (-1.3%). As of 08:21 GMT, they were trading at $485.8 (+13.6%). Moments earlier, the price almost reached %500, which marks a 16% increase.
Since 2021, energy prices in the EU have been surging as part of a global trend. After the beginning of Russia's military operation in Ukraine in February and the adoption of several packages of sanctions against Moscow by the bloc, gas prices have accelerated their growth, placing energy security high on both the global and national agendas and pushing many European governments to resort to contingency measures.
Russia's first liquefied natural gas (LNG) plant on Sakhalin - Sputnik International, 1920, 19.12.2022
Who Controls Gas Prices and How Are They Set?
Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала