The price of European natural gas continues to fall from a high level. On Monday morning, the much-discussed futures contract TTF for Dutch natural gas cost a low of 144 euros per megawatt hour. That was about five percent less than on Friday. The TTF contract serves as a benchmark for the general price level on the European natural gas market.
The situation on the gas market, which had been very tense for a long time, has recently improved somewhat. The background to this is the fact that European natural gas storage facilities are now well filled and political efforts are being made to reduce natural gas consumption. Regardless, natural gas still costs a lot more than it did before the war in Ukraine started.
Replacement Shipments from the US
The background is Europe’s heavy dependence on Russia’s natural gas supply, which has been gradually phased out in recent months. Replacement supplies mainly come from Norway or, in the form of liquefied gas, for example from the US.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
