Europe faces a gas supply crisis
Gas futures prices in Europe continue to decline, as they fell during today’s trading to the level of $900 per thousand cubic meters, according to the Russian “Novosti” agency.
The prices of gas futures contracts for the month of February on the TTF index decreased, during today’s trading, by 7.8% to the level of $911.5 per thousand cubic meters.
Gas prices in Europe continue to decline following they recorded on December 21 their highest level ever, reaching $2190.4 per thousand cubic meters.
Experts suggested a decline in prices for additional supplies of liquefied natural gas to Europe from the United States and an increase in electricity generation from European wind farms.
Europe is facing an unprecedented shortage of gas supplies, which is considered the most serious in decades. On the other hand, the exporting countries are benefiting from the rise in international gas prices.
Gas prices have doubled several times since the beginning of the Corona pandemic and so far in Europe, putting the old continent before a number of critical challenges that affect various sectors, with the increase in demand for liquefied natural gas around the world.