Exchange gas prices in Europe fell by 13%

Exchange prices for gas in Europe during today’s trading on the London ICE exchange fell by 13% – below the level of $ 2,200 per thousand cubic meters. m. The day before, the cost of quotations was at a level above $ 2,450 per thousand cubic meters. m. Today, the cost of the nearest, October, futures for natural gas at the TTF hub in the Netherlands at the moment fell to $2,128 per thousand cubic meters. m. At 18.25 Moscow time, its cost was 212 euros per MW / h, or about $ 2203, taking into account the current exchange rate on the international market, testify ICE exchange data.

Last week “Gazprom” reported that the last gas compressor turbine, which was shut down for preventive maintenance on August 31, will not resume operation on September 2. After that, gas pumping through the Nord Stream was completely stopped.

Against the backdrop of this news, gas prices began to rise after slowing down on the news about the early filling of underground gas storage facilities (UGS) in Europe. In particular, Germany reached the 85% UGS occupancy level 2 months ahead of schedule.

In early March, prices for April futures in Europe reached a maximum due to fears of a ban on the import of Russian energy resources. On March 7, quotes reached $3,892 per thousand cubic meters. m, approaching $3,900 for the first time. Gas prices last rose significantly above $3,500 amid news of a three-day suspension of Nord Stream for maintenance.

Earlier today, European Commission President Ursula von der Leyen said that the EC intends at the meeting of the Council of the EU on September 9, to submit a proposal to set a ceiling price for Russian gas. According to the draft document developed by the EC, which regulates the conditions for limiting the cost of fuel, prices for Russian pipeline gas should not exceed 50 euros per 1 MWh (about $528 per 1,000 cubic meters), sources told Politico.

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