Bloomberg: Gas prices in Europe are falling due to the rapid filling of storage facilities
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As of 12:15 Moscow time, the price of gas at the TTF hub in the Netherlands is approximately $3,050 per 1,000 cubic meters. m, follows from the quotes of the ICE exchange. Analysts Bloomberg explain the fall in the cost of the resource with reports of the rapid filling of gas storage facilities in Europe.
The agency’s material mentions a statement by German Economy Minister Robert Habek, who announced plans by the federal government to fill gas storage facilities by 85% as early as next month. “October’s storage target of 85 percent should be reached by early September,” he said. Spiegel fragment from an internal government note.
“European gas prices, in our view, are above fundamentals, driven by a combination of supply and demand issues and poor market liquidity… Gas demand in NW Europe was above our forecast, offset by higher-than-expected offer, resulting in storage construction in line with our expectations,” Goldman Sachs said in a Friday report.
Last week, gas prices in Europe exceeded $3,500 per 1,000 cubic meters. m and only on Friday, August 26, started drop gradually. The record rise in gas prices in Europe was associated with a temporary suspension of supplies via Nord Stream (from August 31 to September 2) due to maintenance.
About gas prices – in the publication “Kommersant” “Gas prices seek new limits”.
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