During trading on September 9, the price of October gas futures on the TTF index exceeded $700 per thousand cubic meters, reaching a maximum of 57.25 euros per megawatt-hour, according to trade data. Therefore, the cost of gas in Europe has broken a record. At the time of writing, prices are reaching €56.55 per megawatt-hour (up about two percent).

Gas in Europe is actively growing in price against the background of a decrease in the level of reserves in underground gas storage facilities (UGS). Additionally, in August, gas supplies to Europe declined for several days in a row after the accident at the Gazprom plant in Novy Urengoy, which posed preconditions for a shortage of fuel and also supported the rise in prices.