Alexei Belogorev, Deputy Director for Energy at the Institute of Energy and Finance (IEF), commented on the current decline in gas prices in Europe, which today fell below $1,000 per thousand cubic meters.
An energy markets expert said that the current decline in gas prices in Europe is the calm before the storm, and prices will return to growth during the heating season.
He added: “I would characterize the current situation as the calm before the storm. It is clear that prices will return to growth during the heating period. This can be seen in the December (2022) and January (2023) futures contracts, which are even higher by 35- 45 percent% from November.
And earlier today, gas prices in Europe, according to the index of the largest European center TTF, for the first time since June 14, fell below $1,000 per thousand cubic meters.
As for the reasons for the decline in gas prices in European markets, analysts pointed out that this is due to the stability of the market in the light of the high level of UGS filling, and did not rule out that the countries of the continent were waiting for a new price increase.
Despite the decline in prices for blue fuel in European markets, prices are still several times higher than last year’s levels.