Gas prices in Europe INCREASED by 37 percent with the Russia-Ukraine war

Gas prices in Europe INCREASED by 37 percent with the Russia-Ukraine war

The megawatt hour price of natural gas, which was 87.76 euros a day before the Russia-Ukraine war in Europe, closed at 121 euros yesterday. On the other hand, Russia’s request for natural gas to be paid in rubles was rejected by Germany and France.

Since the beginning of the Russia-Ukraine war, natural gas prices in Europe have increased by 37 percent.

The megawatt-hour price of natural gas, which rose due to the effect of the post-war sanctions against Russia by Western countries and concerns over supply of natural gas, saw an all-time record close with 217.29 euros on 7 March.

Prices continued to rise yesterday due to the uncertainty regarding Russia’s plan to switch to the Russian ruble in payments for natural gas sales to unfriendly countries.

EU countries currently supply 40 percent of their natural gas needs from Russia. About a third of this supply goes through Ukraine.

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