European gas prices have exceeded $1,000 per 1,000 cubic metres for the first time since December 22, 2022, according to data from the London-based ICE exchange.
At 10:55 a.m. GMT+4 on September 14, October futures on the TTF index reached $1,001.8 per 1,000 cubic metres.
At the same time, gas stocks in Europe’s underground storage facilities have exceeded 68%, but remain at their lowest level for this time of year since records began in 2011, according to TASS calculations based on data from Gas Infrastructure Europe (GIE).
As of September 12, European underground gas storage facilities were 68.04% full, 16.32 percentage points below the five-year average for this date. A year earlier, the storage level stood at 80.1%.
EU storage facilities currently hold around 74.5 billion cubic metres of gas, about 14 billion cubic metres less than a year earlier and the lowest volume recorded since 2013.
At the same time, the rate of gas injection into European underground storage facilities remained among the highest seen in recent years in early September.
However, Europe has already passed the summer months, which are considered the most favourable period for gas injection.
By Sabina Mammadli
