Gas price in Europe continues to decline significantly

With the opening of trading on Thursday, the spot price of gas in Europe continued to decline after the announcement on Wednesday evening of plans to pump Gazprom into EU storage facilities, Interfax reports.

Gazprom does not comment on its plans to operate on the European market - in the field of transportation, storage, spot sales. Therefore, the market is very sensitive to all possible actual technical details of the presence of Russian gas in the EU: the results of auctions for booking transport capacities, the physical flow through gas pipelines (although it is most often distorted by the action of a virtual reverse), activity on the electronic trading platform of Gazprom Export.

On Wednesday, October 27, at a public meeting on gas, Russian President Vladimir Putin instructed Gazprom, after the completion of pumping into Russian UGS facilities, to take care of reserves in Europe. The download should start from the second week of November.

On this news, the price of the nearest (November) futures on TTF on the ICE Futures exchange on Thursday morning fell to 76.525 euros per MWh, or $ 918 per thousand cubic meters. Later, the price recovered slightly - to the level of $942. A day earlier, trading closed at $1062 per thousand cubic meters.

A little earlier - on Wednesday, the price of gas fell slightly against the background of an increase in physical pumping through the Yamal-Europe gas pipeline to 0.9 million cubic meters. m per hour from 0.6 million cubic meters per hour on Tuesday. On Thursday, the gas flow remains at about the same level - 0.9 million cubic meters per hour.

Following the European news, gas prices in Asia went down: the December futures on the Asian spot JKM Platts index fell to $1210 per thousand cubic meters (- $11), the March futures fell the most - to $996 (- $46).

Tags: Gazprom, gas, contracts, UGSF, Asia, RF, heating season, Putin, stocks, price, natural gas, crisis, Europe

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