Energy The price of natural gas rose to a record high due to the war in Ukraine

If Russia completely cut off gas supplies, the price of gas is likely to rise sharply further.

Natural gas prices have risen to record highs as a result of the war in Ukraine, reports AFP news agency.

The most widely quoted price of natural gas in Europe, the Dutch TTF, rose to as much as 213.8 euros per megawatt hour on Friday. As early as the beginning of the week, natural gas cost about 107 euros per megawatt hour.

U.S. natural gas prices have also risen to their highest levels. month.

To Ukraine invaded Russia is a major exporter of natural gas. So far, the sanctions and counter-sanctions that followed the attack have not affected natural gas, but there are fears of a halt in exports and a reduction in supply, says an analyst at Commerzbank in Germany. Carsten Fritsch To AFP.

“There has been speculation that oil and natural gas exports will be subject to direct sanctions. When Russian forces took over a large Ukrainian nuclear power plant, these speculations have only intensified, ”he said.

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Natural gas has been at very exceptional prices since the spring of last year. Before that, the price of a megawatt hour fluctuated for about 15–16 euros for years.

If Russia completely cut off gas supplies, the price of gas is likely to rise sharply further.

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