September futures on the TTF index — Europe's largest hub — opened at $451.2 per 1,000 cubic meters (-1.8%). As of 12:10 GMT, they were trading at $500.3 (+8.8%).
Since 2021, the EU has been experiencing the rise of energy prices as part of the global trend. Sanctions imposed on Russia after it launched the special military operation in Ukraine in February 2022 have accelerated the growth of gas prices, encouraging the European nations to consider contingency measures.