32% drop in the international price of natural gas within a week – Newsbomb – News

32% drop in the international price of natural gas within a week – Newsbomb – News
32% drop in the international price of natural gas within a week – Newsbomb – News

Its international price is set at 215 euros per thermal megawatt hour natural gas in the European reference market, the Dutch TTF (Title Transfer Facility), down 32% or €100 compared to August 26.

The reason for the positive development is mainly the good news of the last few days for the fullness of the European reservoirs which act assuagement to any concerns about the new disruption of the supply of fuel through Nord Stream 1.

In Germany, after all, electricity prices have fallen over the past three days by 54% compared to last week’s highs. They have fallen to 486 euros per megawatt hour from the 1,000 euros they had jumped to a few days ago. Current prices are, however, again about 10 times higher than the average of the last decade.

Among the factors that contributed to the price drop are the decrease in demand for the fuel and the increase in imports of liquefied natural gas (LNG).

Citigroup estimates that even if Russian gas is cut off after September, Europe’s storage capacity will keep prices under control if demand remains down 10% and LNG imports continue. Citigroup estimates that during August gas consumption in Europe fell 12% compared to the same period last year.


The article is in Greek

Tags: drop international price natural gas week Newsbomb News

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