Exchange prices for gas in Europe lost 16 percent

The storage facility. Archive photo

Futures prices for gas in Europe in the first minutes of trading on Monday, losing more than 16%, trading below $ 3,000 per thousand cubic meters, according to the London exchange ICE.

Auction nearest futures (index largest European hub TTF) opened at the level of 3287,3 dollars per thousand cubic meters (-6,3%). As at 9.10 MSK prices are already reduced by 16.3%, making 2936,6 dollars per thousand cubic meters. Dynamics of reproduced from the settlement prices of the previous day – 3507,3 dollars per thousand cubic meters, which was a record for all time of operation of gas hubs in Europe since 1996.

In early March quotes of gas in Europe because of fears of a ban on imports of Russian energy four days in a row was updated historical highs. The record price in 3892 dollars per thousand cubic meters was achieved on March 7.

The last price hike on the European gas markets due to the uncertainty concerning the gas supply. A week ago, the company “Gazprom”, stated that “Nord stream” due to routine maintenance the only working gas compressor unit compressor station Portovaya stop for three days, from 31 August to 2 September. Futures contracts for the supply of gas in September (TTF) after the news has jumped by almost 8% higher than the $ 2,700 per thousand cubic meters.