The cost of gas at trading in Europe on Thursday, 2 January, the first trading day of 2025 year, reached 50.3 euros per megawatt-hour (about 526 euros per 1 kWh. cub. m), Bloomberg reported. This is the highest level of the price of blue fuel since October 2023.The prices for gas agency explains the combination of three factors. The first – is the stoppage of Russian Gazprom’s transit of gas to Europe through Ukraine. The second reason is that, that the liquefied natural gas production plant in Norway’s Hammerfest has suspended operations until 9 January because of a compressor malfunction. At last, a third factor was the cold weather in the north of Europe, which increased gas consumption for heating in the
region. “Reduced supplies (LNG from Norway. – Ed.) this week could provoke more faster outflows from the storage facilities that serve as a buffer. “Stockpiles across the continent are already declining at the fastest pace since 2021 when the gas crisis was just
beginning to begin ” Bloomberg writes. Tem not less less the European Commission stated, that there is no threat to the security of gas supplies to Central and Eastern Europe thanks to “effective preparation work and coordination both in the region, and outside the region.” “The supply of gas is guaranteed through alternative routes (Germany, Italy) and through withdrawals from storage facilities”, – the EU’s executive authority’s website reported.