News

7 December 2010

Narrowing gap between prices on European gas spot markets and long-term contracts prices

The last weeks’ rise in market prices for the natural gas in Europe has narrowed the gap between the current and contracted prices for the blue fuel.

As of the end of November 2010 one thousand cubic meters of fuel on the Baumgarten exchange cost $307, at the French PEG Nord trading on November 30 was closed at $344, at the Dutch TTF – at $359. During this week market prices have continued their rise. On December 7, 2010 the spot price on the Baumgarten trading site hit 23.618 Euro/Mw, or roughly $317/tcm, which is higher than the average annual price of natural gas under long-term contracts of the Gazprom Group of $307-308/tcm.

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