Gas prices in Europe fall by 11%
The spot price of gas in Europe fell 11% in one day, informs via Interfax.
The price of gas delivered on Wednesday at the TTF hub in the Netherlands dropped to $414 from a peak of $464 just a day earlier.
The gas price fell with the start of repairs on the Russian export gas pipeline Yamal-Europe, which is in no way compensated by an increase in transit through Ukraine. Previously, the shutdown of the gas pipeline was an impetus to the rise in gas prices.
Since the beginning of the year, the average cost of a day-ahead contract on TTF is $277 per thousand cubic meters.
Last week, the spot price of gas in Europe surpassed the $450 per thousand cubic meter mark after Gazprom refused to book additional gas transmission capacities through Ukraine in July, when gas supplies to the EU will be reduced due to planned repairs of other gas pipelines. From July 13, the Nord Stream will stop.