European Gas Price Falls to $480 Per Thousand Cubic Meters

BUSINESS TURKMENISTAN
European Gas Price Falls to $480 Per Thousand Cubic Meters
Earlier, the cost of the natural gas’s September futures on the Dutch TTF hub fell to $507 per thousand cubic meters.

The price of natural gas in Europe accelerated its decline during trading on Thursday and reached $480 per thousand cubic meters after Gazprom's statement on the possibility of pumping gas through Nord Stream 2 in 2021, TASS news agency reports with reference to the ICE data.

To date, the price of gas has somewhat won back the fall and is trading at a level slightly above $490 per 1,000 cubic meters. The total drop in gas prices per day is already 9.4%, according to the report.

Earlier, the cost of the natural gas’s September futures on the Dutch TTF hub fell to $507 per thousand cubic meters. The cost of gas was at $ 527 per 1,000 cubic meters until the release of the statement, which is almost 4% higher than the current indicator.

Gazprom announced today that 5.6 bln cubic meters of gas could be supplied to Europe through the Nord Stream 2 gas pipeline in 2021.