Gas prices in Europe fell to $1,600 for the first time since July 21

Exchange gas prices in Europe Exchange gas prices in Europe for the first time since July 21 are below $1,600 per thousand cubic meters. This is evidenced by the data of the London Stock Exchange. ICE. Earlier today, Gazprom resumed deliveries of Russian raw materials to Italy via Austria.

In the first minutes of trading, futures contracts cost $1,700.6 per thousand cubic meters, but after Gazprom’s announcement, prices dropped to $1,590.2 per thousand cubic meters. On October 1, Gazprom informed the Italian Eni about the impossibility of gas supplies through Austria due to problems with Austrian legislation. October 5 deliveries were resumed after the permission of the Austrian operator. Italy receives 25% of gas from Russia, before the start of the military operation, it received 40% of raw materials from the Russian Federation.

At the end of August, gas prices rose against the backdrop of the suspension of Gazprom’s supplies of raw materials through the Nord Stream gas pipeline due to turbine repairs. At the end of September, gas prices were rising due to discovered leaks on three strings of Nord Stream and Nord Stream 2, which made the gas pipelines temporarily inoperative.

Anastasia Larina