Gas price in Europe reached $1,550 per 1,000 cubic meters amid weak wind generation
17:50 16.12.2021 12433
The spot price of gas in Europe with the opening of trading on Wednesday, December 15, continued to rise amid a weak contribution of alternative energy sources, an increase in prices in competing markets and a more severe than previously expected weather forecast in the region, Interfax reports.
On Wednesday morning, the price of the nearest (January) futures on TTF on the ICE Futures exchange reached 132.995 euros per MWh, that is, $1550 per thousand cubic meters. In November, the «day ahead» contract was traded on TTF at an average of $945, in December - $1182 per thousand cubic meters. Since the beginning of the year, the average contract value has reached $518.
In Europe, the production of electricity from renewable sources has fallen sharply. On Monday, the contribution of wind generation to electricity generation in Europe was only 10.1%, on Tuesday and even less – only 9.9% (with an average value of 15.6% in the week of December 6-12), according to data from the WindEurope association.
The current level of gas reserves in underground storage facilities in Europe reached 61.9% of their maximum capacity (data as of Monday morning) – this is 16.8 percentage points below the average over the past five years, according to data from Gas Infrastructure Europe.
The work of the Interdepartmental Commission on the Caspian Sea was discussed at the Ministry of Foreign Affairs of Turkmenistan
The 63rd meeting of the Interdepartmental Commission of Turkmenistan on the Caspian Sea was held at the Ministry of Foreign Affairs on February 23. The meeting was attended by the relevant Vice-Chairmen of the Cabinet of Ministers of the country, the Director of the Caspian Sea Institute, heads of a number of ministries and specialized departments.
Products of oil refineries were sold at the auction
Last week, 35 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan.
The President of Turkmenistan and the Vice President of the UAE noted the active dynamics of cooperation in the energy, oil and gas and other spheres
The development of bilateral cooperation was discussed at a meeting on February 21 between the President of Turkmenistan Serdar Berdimuhamedov and the Vice President, Deputy Prime Minister, Minister of the Presidential Administration of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, who arrived in our country on a visit, TDH reports.
Dynamic development of national investments is carried out at the fields of Turkmenistan
Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov, during an extended meeting of the government last Friday, reported on the work carried out by the oil and gas complex to increase oil and natural gas production, as well as the timely development of national investments in the coming years.
Liquefied gas and jet fuel were sold abroad at the auctions, and polypropylene and base oil were sold to the domestic market
27 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.