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Energy crisis in Europe

Gas prices in Europe fall below $1,450 per 1,000 cubic meters

The general decline in gas prices exceeded 27% the day before

MOSCOW, December 24. /TASS/. Gas prices in Europe decreased by 7% and dropped below $1,450 per 1,000 cubic meters on Friday, according to London’s ICE.

The price of January futures on the TTF hub in the Netherlands dropped to $1,441 per 1,000 cubic meters or 123 euro per MWh.

The general decline in gas prices exceeded 27% the day before.

Gas exchange prices in Europe on December 21 for the first time in history surpassed $2,000 per 1,000 cubic meters against the backdrop of the coming cold weather and with abnormally low gas reserves in European underground storage facilities. However, the futures price on the TTF hub is highly volatile due to speculative factors and does not reflect the real price of physical supplies to Europe.

The average price of gas exports under Gazprom contracts in 2021 will amount to $280 per 1,000 cubic meters.

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Energy crisis in Europe

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Soyuz MS-26 crew enters International Space Station

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