The price of gas in Europe started to rise again after having reached its lowest level for more than a year at the start of the week.
This is due to the winter cold, which forces people to warm up. Gas market traders are also closely monitoring the situation in Asia, as a sudden increase in gas demand in this region could put pressure on imports of liquefied natural gas (LNG) into Europe.
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On the main gas exchange in Amsterdam, the price per megawatt hour rose on Friday by some 10% to exceed 67 euros. Just a few days ago the price was below 55 euros. However, we are still far from last year’s peak. When Russia largely shut off the gas tap last summer, gas prices soared to nearly 350 euros per megawatt hour.
Mild weather at the start of winter, however, has kept gas reserves well supplied so far.
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