The price per megawatt-hour of natural gas in Europe, which started in early trading on the Netherlands-based virtual natural gas trading point (TTF) at Є110 increased around 13% to Є123.
The gas contract price for April opened around Є110 but sharply increased following the statements of German Economy Minister Robert Habeck.
Habeck said his country should prepare for potential gas supply disruption in the coming days as Russia is saying it will only accept payments in rubles for gas deliveries.
Habeck reiterated that German energy companies will not pay for Russian gas in rubles as their contracts stipulate payment in dollars and euros.
In response to Western sanctions on Russia, Moscow had announced earlier that it will only accept payments in rubles from 'unfriendly countries' for its gas deliveries. Russian authorities are expected to announce new rules for gas payments on Thursday.
€1 equals 16.35 Turkish liras
By Murat Temizer