European gas prices soar again, approaching record highs

EUROPEAN gas prices are soaring again, approaching record highs, as a result of Nord Stream pipeline flows falling to just 20% of capacity due to ongoing maintenance, a report by consultancy Rystad Energy said on Tuesday. If Russian flows halt entirely, which is not out of the question, prices could skyrocket further even as the continent seeks to restock gas inventory levels ahead of the approaching winter season.

European gas prices soar again, approaching record highs European gas prices soar again, approaching record highs European gas prices soar again, approaching record highs European gas prices soar again, approaching record highs European gas prices soar again, approaching record highs

 

European gas benchmark TTF Front Month prices soared back to more than $60/MMBtu on July 27 as the gas market reacted to the reduction of Nord Stream 1 flows to 20% of the facility's capacity.