30 November 2023 / 11:30
Gas price in Europe continue decline amidst plans to pump through Nord Stream 2
The price of gas in Europe accelerated its decline during trading on Thursday and reached $480 per thousand cubic meters after Gazprom's statement on the possibility of pumping gas through Nord Stream 2 in 2021, according to the ICE data presented on Thursday.
To date, the price of gas has somewhat won back the fall and is trading at a level slightly above $490 per 1,000 cubic meters or 41.07 euros per MWh (based on the current euro-dollar exchange rate, ICE prices are presented in euro per MWh). The overall drop in gas prices per day is already 9.4%.
The cost of the September futures contract on the TTF hub in the Netherlands went down to $507 per 1000 cubic meters or 42.3 euros per MWh The cost of gas was at $ 527 per 1,000 cubic meters until the release of the statement, which is almost 4% higher than the current indicator, TASS reported.
Earlier, Gazprom said that 5.6 bln cubic meters of gas could be supplied through the Nord Stream 2 gas pipeline in 2021.
On August 18, the gas prices in Europe also went down by almost 10% due to the information that gas pumping through Nord Stream 2 already began, however it managed to win back part of the fall.
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