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Gas price in Europe rises up to 10%

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The February Title Transfer Facility (TTF) contract gained 7% to finish above $23/MMBtu, APA reports citing naturalgasintel.

It remains at pre-war levels, but above where it finished last week,when the contract plungedto a range not seen since 2021. TTF has declined by roughly 50% over the last month amid a stretch of above-normal temperatures and record liquefied natural gas imports.

“…Market participants believe that the European gas balance is not comfortable enough to afford a significant boost in gas demand for power generation, particularly as the price decline could also trigger a restart of some industrial demand,” said analysts.

Source: Azeri-Press News Agency

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