The price of natural gas in Europe jumped by 11% in the first working day after the shutdown of the Yamal-Europe gas pipeline, which reaches Germany, on Saturday, data from the ICE exchange showed, quoted by TASS.
December futures for the TTF hub in the Netherlands rose to $ 861 per thousand cubic meters of natural gas, or € 72 per MWh.
Gas supply through the Yamal-Europe pipeline was cut off on Saturday morning, and reverse pumping began in the afternoon. The operator of the Polish gas pipeline network Gaz-System announced that natural gas continues to flow into the country, but does not reach Germany. Russia assures that it does not manipulate supplies to pump prices. On Friday, the price of gas in Europe fell below $ 800 per thousand cubic meters, and this had not happened since September 17, but on Monday it went up again.
In addition, adds TASS, Algeria has stopped gas supplies to Spain via Morocco via the Maghreb-Europe pipeline. The reason is the strained relations with Morocco. But Algeria continues to meet its obligations to Spain, using the Medgaz pipeline, which connects Algeria’s largest Hassi-Rmel field with an underwater gas pipeline to Spain. Tankers also transport Algerian liquefied natural gas.
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