Maximum since the beginning of the war. The price of natural gas in Europe rises to more than 159 euros per MWh

The reference price of natural gas in Europe exceeded 159 euros per megawatt hour (MWh) on Monday, the highest since March 9 due to fears of a cut in supply from Russia through the Nord Stream I gas pipeline.

According to data from Bloomberg consulted by Efe, at 11:00 a.m. in Lisbon, the price of TTF (Title Transfer Facility) natural gas for delivery in August in the Dutch market rose today to 159.50 euros per MWh, 8.5% more that Friday. and the highest value since March 9.

This increase occurs after the Russian state gas company Gazprom confirmed last Friday that the Nord Stream I gas pipeline will be inoperative for 11 days, from the 11th to the 21st of this month, for repairs.

The day before, German Economy and Energy Minister Robert Habeck announced that a technical closure of the infrastructure would take place and expressed concern about the possibility of a complete “blockade” of the gas pipeline under the guise of repair work.

Since last Wednesday, the day before the German minister’s statements, the price of gas has risen by 15.5%.

The increase is added to the one that has been taking place since mid-June, when the price once again exceeded 100 euros due to cuts in the flow of the Nord Stream I caused by the lack of material derived from the sanctions imposed on Russia, such as the state company Gazprom justified it at the time.

Since then, gas prices have risen 64%.

Last year around this time, natural gas cost €35 per MWh, 78% less than it currently costs.

Source: TSF