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    TTF gas price hits $1,300/'000 m3


The contract for November delivery reached $1,200 for the first time only a day earlier.

by: Joseph Murphy

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Natural Gas & LNG News, Europe, Top Stories, Market News, News By Country, Russia

TTF gas price hits $1,300/'000 m3

The futures contract for November gas delivery at the Dutch TTF hub reached a record €108/MWh on October 5, data from the ICE energy exchange shows, equivalent to more than $1,300/'000 m3.

European gas prices continue to rise from record height to record height, amid cold weather and supply constraints. Demand remains stubbornly strong, even though some power generators are switching to less costly fuels such as coal, causing its price to spike.

European storage levels are also at a historical low, as companies lack incentive to store more volumes given how high prices currently are.

The November contract at TTF exceeded $1,200/'000 m3 for the first time only on October 4.