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Exchange prices for gas in Europe during today’s trading fell by 5%, being at the moment below $2,300 per thousand cubic meters.
So, the nearest – October – futures (according to the index of the largest European hub TTF) opened trading on Friday at $ 2278.3 per thousand cubic meters (minus 9.3%), but then slightly increased, and as of 9:04 Moscow time, prices were at $ 2394 (minus 4.7% to the previous close), PRIME reports with reference to the data of the London ICE exchange.
Earlier today, Bloomberg indicated that Russian gas supplies to Europe via Nord Stream will resume on September 3, 2022 at 20% of the planned capacity. This will happen after the completion of the planned pipeline repair.
“Russia is set to resume gas deliveries through its key pipeline to Europe, which is a relief for the markets, despite continued concerns about more shutdowns this winter. Energy system data show that deliveries will resume on Saturday at 20% of the planned capacity, ”Gazeta.Ru quotes the agency’s material.
Against this backdrop, gas and electricity prices retreated from last week’s record highs, but are still trading at elevated levels.
Meanwhile, Vygon Consulting research director Maria Belova, in an interview with RIA Novosti, modeled Gazprom’s reaction to the hypothetical introduction of a gas price cap in the EU.
In her opinion, if we draw analogies with the Russian position regarding the Group of Seven (G7) initiative to introduce a price corridor for oil and oil products, the Russian concern may stop gas supplies to European countries that will support price limits for it.
Earlier, the representative of the European Commission emphasized that the regulator continues to study ways to contain energy prices, including the issue of setting a limit on the cost of gas from Russia.
Let’s also remind that back in early March, gas prices in Europe, due to fears of a ban on the import of Russian energy resources, updated their historical highs for 4 days in a row. The price record of $3,892 per thousand cubic meters was reached on March 7.
Source: Rosbalt
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