Gas prices in Europe climb following raid on Kursk
The Ukrainian assault on Russia’s Kursk Region has caused a significant spike in natural gas futures across Europe. Read Full Article at RT.com.
TroibNews 
Natural gas prices in Western Europe saw an increase on Monday, as reported by data from the London Intercontinental Exchange (ICE).
The September delivery prices for gas futures at the Title Transfer Facility (TTF) hub in the Netherlands rose by approximately 6% to $490 per thousand cubic meters, equating to €42.82 per megawatt-hour for consumers, before experiencing a minor decline. This represents the highest price point for gas futures since the previous December.
The rise in gas prices began last week, coinciding with the onset of Ukrainian military operations into the Kursk Region of Russia.
Russian reporting indicates that investors are worried about the impact that the ongoing conflict might have on the flow of Russian pipeline gas to the EU, which is facilitated through Ukraine’s transit system.
Sudzha, a town mere 9km away from the border, which is home to the key operational gas metering station between Ukraine and Russia, has been impacted by the military activities.
Sergey Kupriyanov, a spokesman for Gazprom, indicated on Friday that the skirmishes near Sudzha could lead to higher natural gas prices.
By Monday, Kupriyanov confirmed that gas transit through Sudzha is proceeding as per the existing contracts.
Despite sanctions from Brussels related to Ukraine that have not targeted pipeline gas deliveries, several EU countries, such as Poland, Bulgaria, Finland, the Netherlands, and Denmark, have already stopped importing Russian pipeline gas. However, some members including Austria, Hungary, Slovakia, and Italy continue their imports.
Last week Slovakia cited a significant risk to the flow of Russian gas through Ukraine to Slovakia due to the ongoing conflicts.
The current agreement for gas transit between Gazazprom and Ukraine is set to end this year, with Kiev indicating no plans for renewal. Recently, reports have emerged that several EU nations are exploring alternatives to maintain gas flow through Ukraine’s transportation networks beyond 2024.
Anna Muller for TROIB News
The September delivery prices for gas futures at the Title Transfer Facility (TTF) hub in the Netherlands rose by approximately 6% to $490 per thousand cubic meters, equating to €42.82 per megawatt-hour for consumers, before experiencing a minor decline. This represents the highest price point for gas futures since the previous December.
The rise in gas prices began last week, coinciding with the onset of Ukrainian military operations into the Kursk Region of Russia.
Russian reporting indicates that investors are worried about the impact that the ongoing conflict might have on the flow of Russian pipeline gas to the EU, which is facilitated through Ukraine’s transit system.
Sudzha, a town mere 9km away from the border, which is home to the key operational gas metering station between Ukraine and Russia, has been impacted by the military activities.
Sergey Kupriyanov, a spokesman for Gazprom, indicated on Friday that the skirmishes near Sudzha could lead to higher natural gas prices.
By Monday, Kupriyanov confirmed that gas transit through Sudzha is proceeding as per the existing contracts.
Despite sanctions from Brussels related to Ukraine that have not targeted pipeline gas deliveries, several EU countries, such as Poland, Bulgaria, Finland, the Netherlands, and Denmark, have already stopped importing Russian pipeline gas. However, some members including Austria, Hungary, Slovakia, and Italy continue their imports.
Last week Slovakia cited a significant risk to the flow of Russian gas through Ukraine to Slovakia due to the ongoing conflicts.
The current agreement for gas transit between Gazazprom and Ukraine is set to end this year, with Kiev indicating no plans for renewal. Recently, reports have emerged that several EU nations are exploring alternatives to maintain gas flow through Ukraine’s transportation networks beyond 2024.
Anna Muller for TROIB News
