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Gas prices in Europe from the beginning of the week decreased by 10%

Ukraine / Europe

a Glut of the European system of gas because of lower demand in latest days as a result of temperature rise and maximum flow through Ukraine brought down the price of gas to the EU to its lowest level in the last 4 weeks.

Gas prices in Europe from the beginning of the week decreased by 10%

the price of natural gas on European markets has decreased to minimum for last month values. At the beginning of the day 6 Dec spot prices Day Ahead in the hubs varied in the range of 13.9 - 15,2 € /MW-hour (estimated ExPro approximately 3840 - 4200 UAH/thousand cubic meters), an average of 9 - 10% lower than earlier in the week.

In the course of trading on Friday (December 6) prices continued falling due to low demand amid high supply. In particular, in the first half of the day spot prices Day Ahead on the most liquid European hub TTF decreased by half a Euro to 13.55 euros/MW-hour (about 3740 UAH/thousand cubic meters). Thus the beginning of the week prices on the TTF fell by 12.5%.

the Futures price of the resource Jan has also declined - with the beginning of the month at the TTF were down by 7% to 15,175 € /MW-hour (as of 6 December).

Gas in Europe is getting cheaper with the beginning of the week. The main reason for the decline in prices in Europe is a glut in the market gas due to the reduction of demand due to warm weather and strong wind.

supply in the market exceeds demand, LNG supply is consistently high, the supply of gas from Norway and without interruption, in contrast to the previous month. In addition, the import of Russian gas to Europe through Ukraine is at its highest in the last six months level.

Previously coalsalesthat in the event of termination of gas transit through Ukraine, gas prices in Europe could rise to two times from the current.

МЕТАЛЛУРГПРОМ
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