During trading on Monday, January 24, the cost of gas in Europe increased by more than 19 percent. The price exceeded $1,100 per thousand cubic meters. This is evidenced by the data of the exchange ICE.
The February futures price at the TTF hub in the Netherlands rose to $1,102 per 1,000 cubic meters. The overall increase in the cost of gas since the beginning of the trading day is 19.4 percent.
Earlier it became known that the supply of liquefied natural gas (LNG) to Europe in January 2022 will reach a new historical record in history, exceeding 10 billion cubic meters. At the same time, the market fears that potential sanctions against Russia could lead to a cessation of supplies. In the Kremlin, such statements were considered “fake hysteria.”
At the same time, deliveries to Europe have declined in recent months, prices have tripled, causing a sharp rise in electricity prices.
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