The gas market price in Europe during trading on Tuesday rose above $1,300 per thousand cubic meters, the first time since March 24, according to data from the London ICE exchange.
The price of futures deliveries for April at the reference Dutch hub TTF rose to $1,306 per thousand cubic meters, or €114.8 per megawatt hour.
Since the beginning of today’s gas trading on ICE, the price has increased by 12 percent.
The gas price has been rising significantly since March 23 and the announcement by Russian President Vladimir Putin that payment for gas exports to countries that have imposed sanctions on Russia will be switched to rubles.
Later, the price began to fall after news of the US’s intention to send additional liquefied natural gas (LNG) supplies to Europe, which will replace Russian supplies.
The European Commission announced that it will work on creating additional infrastructure for receiving American gas in the amount of 50 billion cubic meters per year.
