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Gas price in Europe dropped by 20%

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Gas price retreated from all-time high

The Yamal-Europe gas pipeline continues to operate in a reverse mode, but this no longer affects quotations.

The price of natural gas in Europe during the exchange trading fell below $ 1600 per 1,000 cubic meters. m. This on Thursday, December 23, according to the data of the London stock exchange ICE.

Thus, the price of January futures on the TTF hub in the Netherlands dropped to $ 1599.8 per 1,000 cubic meters. m, or 136.555 euros per MWh.

The overall decrease in gas prices since the beginning of the day is already more than 21%.

Recall that the cost of gas in Europe began to grow against the backdrop of Gazprom stopping transit to Europe via Poland. The Yamal-Europe pipe has been operating only in reverse mode for several days.

As a result, December 21 gas price has renewed its historical maximum, almost reaching $ 2,200 per thousand cubic meters.

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