Gas prices in Europe rise after leaks in major pipelines

Denmark's energy agency confirms detection of three leaks on Nord Stream 1 and Nord Stream 2 gas pipelines

By Zeynep Beyza Kilic

ANKARA (AA) - The price of natural gas per megawatt-hour in Europe rose 12.8% to €209.88 ($200.71) on Wednesday, the latest market data showed.

The October gas contract price on the TTF, the Netherlands-based virtual natural gas trading venue, opened Wednesday at €207 per megawatt-hour.

At 10.35 a.m. local time (0735 GMT) on Wednesday, prices increased 12.8% to €209.88 compared to the closing price of €186.09 on Tuesday.

Gas prices increased after Danish authorities reported a gas leak from the defunct Nord Stream 2 pipeline close to the island of Bornholm in the Baltic Sea on Monday.

Denmark's energy agency confirmed the detection of three leaks on Nord Stream 1 and Nord Stream 2 gas pipelines.

The Russia-owned Nord Stream 2 pipeline, originating in Russia and passing under the Baltic Sea to Germany, was constructed to double the volume of gas. However, as soon as construction finished, Germany decided to halt operations after the start of Russia's war on Ukraine.

Russia halted flow from the Nord Stream 1 pipeline on Aug. 31.

Kaynak:

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