The suspension of natural gas transit from Russia through Ukraine will lead to a loss of about 100 billion euros. This was stated by the managing director of the industrial and energy company Metlen Energy & Metals Evangelos Mytileneos.
„We are losing 5% of natural gas imports due to a market that is in a state of intimidation. We see how the hub prices in the Netherlands are increasing from 30 EUR/MWh·h in the previous months to 50 EUR/MWh·h. This difference of EUR 20 applies not only to imports via Ukraine, but to 100% of imports, as most supply contracts are tied to the TTF price. An increase in the price by EUR 20 per MW·h for a volume of 500 billion cubic meters of natural gas imported from Europe means a loss of EUR 100 billion“, explained the company's boss.
The price of gas in Europe gradually increased at the end of December last year in anticipation of the termination of the transit of Russian gas via Ukraine. At the same time, in the first trade after the cessation of gas supplies from the Russian Federation, quotes increased by 1%, but nevertheless remained at the maximum since November 15, 2023. After that, prices decreased and stabilized at around USD 520 per 1,000 cubic meters. m.