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Ukraine’s attack on the Kursk region has dealt a “serious blow” to European energy markets, as gas prices in Europe have reached record highs for the year in recent days amid the ongoing conflict.
This information was reported by Le Figaro.
According to the publication, on Friday evening, gas futures at the TTF, Europe’s largest trading hub located in the Netherlands, were priced at €40.6 per megawatt-hour—marking a 12% increase since the beginning of the month.
Le Figaro explains that the price surge is influenced by uncertainty surrounding the future of the Sudzha gas metering station in the Kursk region. The city of Sudzha is a crucial transit point for Russian gas; despite the conflict, Moscow continues to export gas through Ukraine.
Additionally, the European market is concerned about the potential sudden cessation of Russian gas exports. The two countries are currently bound by a contract allowing the transit of Russian gas through Ukraine. However, Kyiv has adamantly refused to extend the agreement beyond its expiration at the end of 2024.
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