In Europe fell in price gas
The price of gas at the TTF Netherlands Gas Exchange today collapsed by 23%, dropping below $ 1,100 per thousand cubic meters. The collapse of the exchange price of gas in Europe may be associated with information that the tankers of large LNG suppliers unfold and follow in Europe instead of Asia, since in Europe last week gas prices turned out to be higher than Asian.
Recall that last week the price of gas in Europe exceeded $ 2200 per thousand cubic meters, and Western media connected such a jump price primarily with Gazprom’s refusal Book an additional power in the “Yamal-Europe” gas pipeline. Now the price has dropped, partly also due to the fact that Germany began to supply gas for the reverse in Poland last week and Slovakia at a price, 4-6 times the contract price of Gazprom, according to which Germany purchased gas.
Such a “wide gesture” of Germany to the address of Eastern European countries can signal that the problem of the energy crisis in Europe is too exaggerated. Indeed, Germany sharply devastates its PCG, but such Gas selection may be associated with the desire of German companies to make a profit on the difference in contract and stock price, and not with the fact that German consumers are not enough gas.
However, if gas prices in Europe begin to decline, and in Asia will remain at the same level, suppliers can again deploy their tankers and again redirect their LNG to Asia, where their energy resource is more expensive. All this suggests that Germany needs to be commissioned as early as possible “Northern Stream-2”, And without his launch, gas prices in Europe will continue to maintain a tendency to increase.
While the price of gas on the TTF Exchange remains near the level of $ 1,100 per thousand cubic meters. Until the New Year, the price of gas in Europe may vary from $ 900 to $ 1,300 per thousand cubic meters.