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Gas price in Europe down to $780 per 1,000 cubic meters as Wednesday trading opens

On the previous day the price declined below $800 per 1,000 cubic meters for the first time since December 31, 2021

MOSCOW, February 16. /TASS/. The gas price in Europe continued declining as Wednesday trading opened, decreasing to around $780 per 1,000 cubic meters, according to London’s ICE trading data.

The price of gas futures for March delivery at the TTF hub in the Netherlands was down at $777.7 per 1,000 cubic meters, or 66.21 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

By now the price of gas has partially recovered losses, standing at $793. The total decrease in the gas price since the trading opened has reached around 5%.

On the previous day the price of gas in Europe declined below $800 per 1,000 cubic meters for the first time since December 31, 2021, following the talks between Russian President Vladimir Putin and German Chancellor Olaf Scholz.

Concerns over Moscow's alleged preparations for an invasion into Ukraine have been increasingly announced in the west and in Kiev recently. Kremlin Spokesman Dmitry Peskov castigated these statements as an empty and groundless escalation of tension, emphasizing that Russia posed no threat to anyone. At the same time, the Kremlin press secretary did not exclude some possible provocations to justify such claims and warned that the attempts to resolve the Ukrainian conflict by force would carry extremely serious consequences.