Gas price in Europe fell by 6.5%
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Exchange prices for gas in Europe since the beginning of trading have fallen by more than 6.5% and are below $1,800 per 1,000 cubic meters. m, according to the ICE exchange. The cost of October futures at the TTF hub in the Netherlands fell to $1,789.8 per 1,000 cubic meters. m.
According to the Association of Gas Infrastructure Operators, European gas storage facilities are on average over 85% full. Experts considerthat the available stocks will only be enough to cover 21% of the annual consumption of Europe, and the storage facilities will be empty as early as February 2023.
As noted Bloombergprices are falling amid the fact that the authorities of European countries are stepping up efforts to combat the energy crisis – the German government has allocated “billions of euros” to purchase gas, Norway will allocate $16 billion to support households.
About the situation with gas – in the material “Kommersant” “Gas reserves will not save Europe from its shortage”.
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