During the auction on Tuesday, November 16, gas prices in Europe jumped and for the first time since the end of October reached a mark of $ 1100 per thousand cubic meters. This is evidence of the ICE exchange data.
So, the cost of December gas futures on the Dutch TTF index rose to $ 1110, which is 17.8 percent above the billing price of Monday – $ 942.3.
The reason for sharp rise in prices was the decision of Germany to suspend the certification of the Nord Stream-2 gas pipeline. This decision will be valid until the Swiss project operator Nord Stream 2 AG will not create a subsidiary for the operation of the German site.
The Fitch rating agency suggested that the project can be launched by the end of the heating season. Earlier, Bloomberg has calculated that Gazprom’s certification may be stretched for up to May 8. A new requirement additionally delays the process.