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Sharp fall in European gas prices

In Europe, the megawatt-hour price of natural gas for November delivery decreased by 17 percent.

The gas futures contract price traded at TTF, the Netherlands-based virtual natural gas trading point with the deepest depth in Europe, closed at 188.8 euros on Friday, September 30th.

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The megawatt-hour price of natural gas closed on Friday, October 7, at 156 euros. Thus, the gas contract price for November futures decreased by 17 percent in one week.

The measures taken by Europe regarding natural gas consumption and the occupancy rate in natural gas warehouses were effective in the price decrease.

The occupancy rate in Europe’s natural gas warehouses was recorded as 88.58 percent as of October 10.

Countries such as Belgium, Poland, Portugal and Germany reached an occupancy rate of over 90 percent.

 

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As of 11.44, the price of natural gas per megawatt hour is 150 euros per megawatt hour.

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