Gas prices were up sharply in Europe on Thursday. The market is concerned regarding the supply of Russian gas via Ukraine and the effects of Russian sanctions targeting European energy companies. On the natural gas futures market in the Netherlands, which serves as a benchmark for the price of gas in Europe, the price rose by 11% on Thursday morning. At the same time, the price per megawatt hour rose to more than 105 euros, an increase of more than 12%.
The transit of Russian gas to Europe via Ukraine has been greatly disrupted recently. On Thursday, it is expected to see a drop of almost a third, following an 18% reduction on Wednesday. Despite the war, gas transit had remained level in recent months.
Russia has also announced that it has introduced sanctions once morest European energy companies, whose impact on the gas market is still uncertain.
This market remains very unstable, despite the rise in temperatures and the increase in the supply of liquefied natural gas to Europe.
