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In Europe, gas prices may briefly drop below zero in the summer – media

This has not happened since October 2006, when UK intraday prices fell below zero following the opening of a new gas pipeline under favorable weather conditions.

The short-term price of natural gas in Europe could easily fall below zero this summer if demand does not catch up with supply, Bloomberg wrote.

This has not happened since October 2006, when UK intraday prices fell below zero following the opening of a new gas pipeline under favorable weather conditions. made powerful. Markets in countries with limited gas reserves, such as the UK, are more likely to reach zero.

European gas reserves are above seasonal levels, at about 66% full, and some expect storage to be full by August, before the start of the heating season. Meanwhile, low prices haven’t lived up to industrial demand, and some consumers are putting off buying gas until prices drop.

“If this continues, we will be full early in the summer, in September or October, and then everything depends on how early the winter starts,” said György Varga, chief executive officer of the Swiss trading company MET International.

Recall that at the end of April, the European Union started the process of joint purchase of AggregateEU​​​​gas, in which Ukraine may also be involved.

Falling prices continue in the European gas market

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Source: korrespondent

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