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 Є97 increased 22.42% to Є118.75.
The gas contract price for April opened below Є100 but sharply increased following the statements of German Chancellor Olaf Scholz, who said Western sanctions against Russia are starting to show their effects.
Scholz further said they may soon take even more stringent measures if Russian President Vladimir Putin does not end hostilities in the war between Russia and Ukraine.
Comments from Putin over Russia’s plans to switch to Russian rubles for trade in natural gas to unfriendly countries propped up prices, which rose to Є118.75 per megawatt-hour at 15.50 pm Turkish time (1250 GMT) relative to early morning trading.
€1 equals 16.32 Turkish liras
By Murat Temizer
Anadolu Agency
energy@aa.com.tr