Prices fell amid high filling of gas storage facilities in Europe, record LNG flows and warm weather.
The price of natural gas in Europe in exchange trading fell below $350 per 1,000 cubic meters. m for the first time since June 7, 2021. This was confirmed by the data of the London ICE exchange on Thursday, May 18.
The price of June futures at the TTF hub in the Netherlands fell to $348.3 per 1,000 cubic meters. m, or €31.1 per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euros per MWh). The total price decline since the beginning of the day is about 2.7%.
Gas in Europe is becoming cheaper against the background of high filling of gas storage facilities, record LNG flows and warm weather. Thus, in mid-May, storage occupancy exceeded 64%, and LNG receipts from terminals to the European gas transmission system in April reached the absolute maximum in the entire history of observations – 12.07 billion cubic meters. m. The record of LNG flows in Europe remains in May.
Recall that at the end of April, the European Union started the process of joint purchase of AggregateEUgas, in which Ukraine may also be involved.
Source: korrespondent
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