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Gas prices in Europe rose after news of the attack on the TurkStream pipeline

The increase is within 1%

Jan 13, 2025 11:53 73

Gas prices in Europe rose after news of the attack on the TurkStream pipeline  - 1

The price of gas in Europe during stock exchange trading on January 13 reacted with a 1% increase to the news of the attack on the compressor station of the "TurkStream" gas pipeline by the Ukrainian armed forces, according to data from the London ICE exchange.

The price of February futures in the TTF center in the Netherlands rose to about 500 USD per 1000 cubic meters, or 47.375 EUR per MWh (based on the current exchange rate between the euro and the dollar, ICE prices are presented in euros per MWh).

Earlier, the Russian Ministry of Defense reported that Kiev, in order to stop gas supplies to Europe, attacked the "Ruskaya" compressor station with nine drones in the Krasnodar Territory, ensuring gas supplies via the TurkStream gas pipeline. In this case, the compressor station supplies gas to the pipeline in normal mode.

The TurkStream gas pipeline, passing from Russia to Turkey via the Black Sea, with a capacity of 31.5 billion cubic meters of gas, is intended for gas supplies to Turkey and the countries of Southern and Southeastern Europe. Today, it remains the last active route for Russian gas supplies to the European direction. The starting point of the TurkStream pipeline is the Russkaya compressor station, built in the Anapa region.

The price of gas in Europe gradually increased in late December in anticipation of the termination of the transit of Russian gas through Ukraine. At the same time, in the first trade after the suspension of gas supplies from the Russian Federation, quotes rose slightly by 1%, but nevertheless remained at their maximum since the fall of 2023. After that, prices decreased.