Commodities
Ukrainian Gas Prices Lag Behind Europe by Record Margin
The spread between Ukrainian and European natural gas prices has reached its highest point since late 2022, with Ukrainian gas trading at 2.5 times the price in Europe.
On September 14, the difference between natural gas prices in Ukraine and Europe exceeded 50 euros per megawatt-hour, according to calculations by industry publication ExPro.
The Ukrainian market is isolated due to high European prices, making imports economically unfeasible. Gas exports have also been banned since the start of the full-scale invasion, creating a surplus of gas in the commercial segment of the Ukrainian market.
European gas prices are on the rise due to the war in the Middle East and record-low gas reserves in Europe.