Gas prices in Europe have renewed their record. The price of the October futures has exceeded $600 per thousand cubic meters, according to trade data.

During the day, the price of the October contract ranged from $588 to $600.6. Spot prices have also increased. Therefore, the value of “a day-ahead” contract with delivery on Tuesday at the Dutch hub TTF increased to almost a record $580. The growth began after the announcement of the results of the auction for the reservation of additional capacities for the transit of gas through Ukraine in September. “Gazprom” bought only 0.65 million cubic meters per day (4.3 percent of the volume).

Against the background of a temporary decrease in Russian gas supplies via the Yamal-Europe gas pipeline after the accident at the “Gazprom” plant in Novy Urengoy on August 5, European countries are experiencing a gas shortage. From August 6 to August 17, pumping along this route was reduced from 2.1 to 1.4-1.5 billion cubic meters per day. In order to fulfill its obligations, the company began to withdraw gas from its own underground storage facilities in Europe, as a result of which the reserves in the largest storage facilities were greatly reduced.