Gas price on a high altitude: melt the reserves in the savings

The gas price in Europe has been increasing since December of the previous year and has reached its highest level since October 2023. Winter temperatures draw on the gas reserves.

The price of European natural gas has its High on Thursday continued And reached the highest level for over a year.

The trend -setting TTF schedule for delivery in one month on the stock exchange in Amsterdam was traded at 55.06 euros per megawatt hour (MWh). This is the highest level since October 2023.

Price increase since December

The price has been going up since mid -December. During this time, the raw material has increased by more than 40 percent. The latest weather forecasts are mentioned as price drivers on the market.

Accordingly, the temperatures in the coming days in northwestern Europe should continue to be comparatively low, which should probably increase the heating requirement.

Low temperatures and little wind

Dealers watch the weather closely at the raw material markets. The low temperatures also affect wind -arm conditions, which drives gas consumption in Europe, whereby the memory empty faster this winter than a year ago.

Since the beginning of the year, the gas reserves have continuously down. The Gass storage in Austria are currently 61 percent filled – A year ago, the level had 81 percent in early February. 52 percent of the German natural gass stores are full, a year ago the comparative value was 74 percent.

Worry about US customs policy

In addition to the cold winter weather, market observers also declared the increase in the gas price with concern about the consequences of the customs policy of the new US government. Because of the tariffs, a trade conflict between the United States and China, which could slow down the further development of the global economy.

Despite the latest increase, the price of European natural gas is still significantly below the level that it had reached in the early phase of the Ukraine War. In the summer of 2022, the lists had occurred to significantly more than 300 euros.

Gazprom sold Austrian gas trade unit

The Russian gas group Gazprom has sold its Austrian and Italian gas trade units to an investment company based in Dubai, such as the Presse with reference to Bloomberg reported. Accordingly, the Centrex Europe Energy & Gas AG, based in Vienna, including its Italian unity in January, went to the Emiratic Eigh Gulf. Centrex is a member of the Austrian gas exchange CEGH.

According to the last annual report available in the commercial register, Centrex generated income of EUR 817 million in 2023, most of which came from their own sales. According to the report, the profit was 16 million euros.