MOSCOW, December 31. /TASS/. The price of gas in Europe fell by 48% in December 2022 versus the previous month to around $845 per 1,000 cubic meters, according to data provided by London’s ICE on January and February futures contracts and TASS’ calculations.

The decrease was triggered by the abnormally warm weather in the region and a large amount of gas supplies in storage facilities.

The price of gas futures reached around $1,558 per 1,000 cubic meters by the end of trading on November 30, whereas on December 30 trading ended with the price of $845, a 48% decrease month-on-month.

The average price of gas in Europe was around $1,272 per 1,000 cubic meters in December, and $1,262 in November.