Update: 05/09/2022 08:41
Issued by: 05/09/2022, 08:37
Amsterdam – The wholesale price of gas for the European market is increasing significantly today, reacting to the interruption of supplies by the Nord Stream 1 gas pipeline from Russia. The price of the key gas futures contract for October delivery in the Title Transfer Facility (TTF) virtual trading hub in the Netherlands showed an increase of 29 percent to around EUR 277.50 (over CZK 6,800) per megawatt hour (MWh) shortly after 08:00 CEST.
Russian gas company Gazprom announced on Friday evening that maintenance work on the only operational turbine of the Nord Stream 1 gas pipeline had revealed faults. The gas pipeline will therefore remain out of service until they are removed. Nord Stream 1 transports gas from Russia to Germany along the bottom of the Baltic Sea and is the main route for Russian gas supplies to the European Union.
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