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The price of natural gas in Europe falls well below 30 euros per megawatt hour - experts warn of further declines
According to a report from www.finanzen.net, the price of natural gas in Europe fell significantly on Monday, falling below the 30 euro per megawatt hour (MWh) mark for the first time in almost five months. The landmark futures contract TTF for delivery in one month on the Amsterdam stock exchange fell by around eight percent to 29.29 euros per megawatt hour (MWh). This shows that European natural gas is cheaper than it has been since last August. Raw materials experts pointed to the comparatively high supply of natural gas, as numerous countries have replaced Russian deliveries in recent months with increased imports of liquid gas from other countries. …
The price of natural gas in Europe falls well below 30 euros per megawatt hour - experts warn of further declines
According to a report by www.finanzen.net, the price of natural gas in Europe fell significantly on Monday and fell below the 30 euros per megawatt hour (MWh) mark for the first time in almost five months. The landmark futures contract TTF for delivery in one month on the Amsterdam stock exchange fell by around eight percent to 29.29 euros per megawatt hour (MWh). This shows that European natural gas is cheaper than it has been since last August.
Raw materials experts pointed to the comparatively high supply of natural gas, as numerous countries have replaced Russian deliveries in recent months with increased imports of liquid gas from other countries. This was also made possible by the construction of liquid gas terminals on the German coast. In addition, the price of European natural gas has broken through a psychologically important mark at 30 euros, which is emphasized by market observers.
LG Energy Group's Tim Partridge does not rule out further price declines, which could lead to a possible price correction in the market. It should be noted that the price for a megawatt hour at the beginning of 2023 was still 79 euros, which clearly illustrates the current price reduction. The natural gas storage facilities in Germany are well filled, which is a positive thing given the cold season.
These developments could have an impact on international supply contracts and competition in the natural gas market. In particular, supplying countries such as Russia could experience a decline in their market shares due to increased imports of liquid gas from other countries. Consumers in Europe could benefit from lower prices, while companies in the natural gas sector may face shrinking margins. The development of the natural gas price will therefore play an important role for market participants in the coming months.
Read the source article at www.finanzen.net