The price of gas on the exchange in Europe rose to the maximum for the year

At stock exchange trading in Europe, the price of gas rose to the maximum since November 27, 2023 - $536 per 1 thousand cubic meters. This follows from the data of the London exchange ICE Futures on Tuesday, December 31.

The growth is attributed to the expected termination of Russian gas transit through Ukraine from January 1. Since Tuesday morning, the growth is more than 4%.

At the same time, at the Dutch hub TTF (Title Transfer Facility) the price of February futures rose to more than $536 per 1,000 cubic meters, or €50 per MWh.

Transit number: Will gas supplies through Ukraine stop on January 1?

Preservation of exports will depend on the geopolitical situation and the persistence of European business, experts believe

In late August, Ukrainian President Volodymyr Zelensky (his term expired in May) said that the country would not renew its gas transit agreement with Russia, which expires at the end of 2024. Russian President Vladimir Putin later said that Russia was not giving up gas transit through Ukraine.

Later on December 20, it was reported that Zelensky said he agreed to transit Russian gas through Ukraine if Western countries would not pay Russia for the fuel until the conflict ends.

On 30 December, it was reported that gas transportation tariffs for Ukrainians will increase by 305% from 1 January 2025. It was specified that the increase was due to the fact that due to the cessation of Russian gas transit, the revenues of the operator of the Ukrainian GTS are significantly decreasing.