European gas prices rose the fastest in about three months on Monday. The market threatens to become tighter with Asian countries also making more attempts to obtain liquefied natural gas (LNG). This is also the biggest threat for European countries to obtain gas in the coming months.
The price of natural gas on the leading gas exchange in Amsterdam rose by up to 20 percent on Monday, which had not happened since March. Around 5 p.m., a megawatt hour cost 27.55 euros, which is about 18 percent more than the day before. This is still many times lower than at the peak last year and also 60 percent lower than at the beginning of this year.
At the end of last month, gas prices fell to their lowest level in almost two years. The decline was caused by the mild weather, the increased import of LNG and gas stocks that are better filled than expected. Companies and households have also saved on gas consumption.
