Capitals: Agencies

Natural gas prices in Europe rose during weekend trading, trading at their highest level this year, amid fears of disruption to Ukrainian supplies. The price rose by about 15% during the week after the Ukrainian army infiltrated the Russian Kursk region, with experts expecting prices to continue to rise with the onset of winter. According to what was reported by the Youm7 website in Cairo,
The Spanish newspaper La Vanguardia said in a report published on its website that fears of interruption of Russian flows passing through Ukraine led to the gas futures market (TTF) exceeding 40 euros per megawatt hour in September contracts, which represents its highest levels during the year by 15% at the beginning of the week. Since its lowest levels witnessed in February, the price has risen by 70%.
According to Bloomberg, Dutch natural gas futures - the European benchmark - for September delivery rose 1.04% to 38.85 euros in morning trading, recording its highest level since the beginning of 2024.

British gas futures for September delivery also rose 1.20% to 98.60 pence per 100,000 British thermal units.

This came after a period of heavy fighting between Moscow and Kiev forces in the Russian Kursk region, which includes one of the main points for the passage of Russian gas to Europe through Ukrainian territory, the Sudzha station.

The station, located near the border between the two countries, is part of the last gas pipeline from Russia to Europe. The Russian company "Gazprom" said that the quantities of gas transported through the station were set at 37.3 million cubic meters per day last Thursday, which is slightly less than the quantities set during the past few months at 42 million cubic meters per day.
Serbian Deputy Prime Minister Aleksandar Vulin warned that Europe would not have enough gas from other sources without supplies from Russia, as the supply route via the Sudzha gas metering station is now the only way to ensure the transit of Russian gas through Ukraine to Europe.