HomeMediaLatest NewsRecords has been broken: why the EU faced soaring gas prices in 2021

Records has been broken: why the EU faced soaring gas prices in 2021

24 December 2021

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov, President of the Institute for Energy and Finance Foundation, commented to Izvestia on the situation at the European gas market.

In December 2021, gas prices in Europe increased in about four times compared to the beginning of the year. In January, the cost of blue fuel at TTF was at the level of € 20 per 1 MW, which corresponds to $ 240 per thousand cubic meters, Marcel Salikhov said. At the same time, on December 7, the price of blue fuel amounted to about $ 1,100 per thousand cubic meters. One of the highs was reached in early October, when this volume was worth about $ 2,000. And on December 21, the prices of January gas futures in Europe set a new record - during the day they broke through the mark of $ 2,100 per thousand cubic meters.

- There is no one reason that led to such a situation, - a complex of factors that have both a global and a purely European character worked, - Marcel Salikhov explained to Izvestia.

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