Gas prices in Europe record their highest level in 2024
Gas prices in Europe have surged to their highest level in 2024, amid growing concerns about possible disruptions to natural gas supplies from Russia to Europe via Ukraine.
At the start of trading, gas futures for September were up 1.2% at $439.3 per thousand cubic meters, the highest level recorded this year.
The rise comes amid attempts by Ukrainian authorities to seize control of a Russian region containing a vital gas station that pumps gas from Russia to Europe via Ukrainian territory.
Last Tuesday, a Ukrainian tanks and armored vehicles, along with elite forces, attempted to seize control of the Sudzha region in the Kursk region in southwestern Russia.
The Russian General Staff confirmed that the Ukrainian attack had been repelled, and that Ukrainian forces had suffered heavy losses.
In response to this development, Russian President Vladimir Putin ordered the provision of all necessary assistance to the population of the region, noting that the Kiev regime had carried out major provocations, including indiscriminate shelling of civilian buildings and ambulances using various types of weapons and missiles.
It’s worth noting that gas supplies via the Sudzha station are currently the only route for pumping Russian gas to Europe via Ukraine, as Gazprom pumps about 15 billion cubic meters annually via this route, which represents about 5% of the total demand for gas in the European Union.
