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Gas prices in Europe surpass $1,000

09 June 2022 12:59 (UTC +04:00)

The price of gas in Europe surpassed $1,000 per 1,000 cubic meters on London’s ICE on Thursday for the first time since the end of May following an explosion at a large LNG plant in Texas, APA reports citing TASS.

The price of July futures at the TTF hub in the Netherlands rose to $1,013.4 per 1,000 cubic meters or 91.425 euro per MWh.

Freeport LNG terminal in Texas has suspended operations following a fire and an explosion and will remain closed for at least three weeks, Bloomberg reported. Freeport LNG's current liquefaction capacity is estimated at 15 mln tonnes of LNG per year, which is about 16% of US LNG exports.