Gas futures in Europe at the opening of trading on Tuesday, November 9, fell on the London ICE exchange by 4per cent to $910 per 1 thousand cubic metres on the background of data on the growth of fuel supplies from Russia.
The cost of December futures on the TTF hub in the Netherlands fell to $899.6 per 1,000 cubic metres or €75 per megawatt-hour in household terms. Later in the day, it was already $911.6, which is still 3.9 per cent lower than the estimated price of the previous trading day.
As reminded, at the end of October, Russian President, Vladimir Putin, against the background of the energy crisis in Europe, instructed Gazprom CEO, Alexey Miller, to begin planned work in early November to increase the volume of gas in underground gas storage facilities in Europe (Austria and Germany).
Then, it became known that the ‘Gazprom’ Russian energy giant increased the volume of gas transit to the EU through Ukraine by 54 per cent, to 88 million cubic metres per day. In addition, according to data on the morning of November 9, pumping through the Yamal – Europe gas pipeline towards Germany has more than doubled, so it reached 850 thousand cubic metres compared to 360 thousand cubic metres the night before.