At the auction on Wednesday, November 17, the price of gas in Europe has grown and added 5 percent compared with the previous closure. According to the ICE exchange, the cost of December gas futures on the Dutch Index TTF exceeded $ 1150 per thousand cubic meters.
At the opening of trading, the price was $ 1133.4 per thousand cubic meters, but soon increased to $ 1166. In total, for three trading days, the calculated price jumped more than 20 percent.
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 Operator of the NORD Stream 2 AG project operator will create a subsidiary to operate the German site. As the Minister of Economy of the German Land Saxony-Anhalt in Germany, Sun Schulza, noted, the decision to suspend the certification of the gas pipeline threatens with industrial losses and price increases.