The price of gas in Europe falls to the lowest level of the postwar period

The price of natural gas in Europe fell to its lowest level since the start of the Ukraine-Russia War, with mild weather conditions, refilling of gas tanks in many countries and more green energy production.

The price of the January gas futures contract, traded on TTF, the Netherlands-based virtual natural gas trading point with the deepest depth in Europe, opened today at 80 euros per megawatt-hour. It fell to 76.18 per megawatt-hour during the day, the lowest level since the start of the war.

The said price decreased 1.27 percent to €79.05 at 2:30 p.m. Turkish time compared to yesterday’s close.

AUTUMN FOR 8 DAYS

It should be noted that the price of gas fell for eight consecutive business days.

Weather conditions, which kept natural gas consumption relatively low, and therefore the refilling of gas tanks in many countries, were effective in lowering prices.

According to data from Gas Infrastructure Europe, the occupancy of gas storage facilities in Germany, which was hardest hit by the energy crisis, is currently at the level of 88.62 percent.

On the other hand, the price of futures contracts traded on TTF had reached 348.8 euros on August 26. (AA)