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European natural gas futures rise 30% to 283 euros per MWh

MADRID, 5 Sep.

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European natural gas futures rise 30% to 283 euros per MWh

MADRID, 5 Sep. (EUROPA PRESS) -

European natural gas futures contracts, traded on the Dutch platform TTF, have reached a price of up to 283 euros per megawatt hour (MWh) this Tuesday, which represents an increase of 30% compared to the price at which they closed the Friday.

At the opening, the price has shot up to 265 euros per MWh, although it has quickly started a new upward path that has taken the wholesale price of gas to its maximum since last Wednesday.

The market reaction comes after last Friday the Russian gas giant Gazprom decided to interrupt the supply of natural gas through the Nord Stream 1 pipeline until further notice.

Gazprom's notice came shortly before the service was to be reactivated, since the company had decided to stop supply to carry out periodic maintenance. In any case, the supply had been at least several weeks, with the flow only at 20% of its capacity.

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