Gas prices in Europe dropped to $ 774.87 per thousand cubic meters after Russia decided to increase deliveries. This is evidenced by the data of the London Stock Exchange ICE.
The cost of gas in Europe fell more than ten percent. At the time of this writing, the news is traded at a price of $ 805 per thousand cubic meters. The cost of fuel began to decline on Tuesday, November 9, after Gazprom increased gas transit to Germany on the Yamal-Europe pipeline 2.5 times compared with Monday evening, November 8.
November 9, Gazprom reported that gas injection plan to European storage facilities was approved and began to be executed. In November, five European underground storage facilities will be replenished. The volume of gas reserves in Europe has already begun to grow. In the period 6-7 of November, 8.1 million cubic meters of gas were injected into the Austrian storage of Haidach, the JEMGUM’s German storage in Germany – 18 million cubic meters, in Rehden – 7.35 million, in the Netherlands Bergermeer – 17 million.
Earlier in October, Russian President Vladimir Putin instructed Gazprom to start working on gas injection into European storage after filling in Russian. The head of the company Alexey Miller in response said that Gazprom will be able to supply additional volumes of gas from November 8. But on the specified day, gas pumping on the Yamal-Europe pipeline was completely stopped. Against the background of concerns about the realizability of the promises of Gazprom, gas prices in the European energy market increased.