MOSCOW, March 3. /TASS/. The price of gas in Europe went down below $500 per thousand cubic meters during Friday trading for the first time since August 23, 2021, according to London’s ICE. The gas price has decreased by 3% in total since the start of trading day.

April futures at the TTF hub in the Netherlands fell to $496.7 per thousand cubic meters, or to 45.255 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

The gas price is falling amid fairly warm weather in the region during this heating season. Moreover, gas reserves in European underground gas storage (UGS) facilities remain record for this season. Currently European UGS facilities are 60.62% full (21.46 percentage points higher than the average as of this date in the past five years), with 65.82 bln cubic meters of gas stored in them.