Russian President Vladimir Putin, in one phrase, influenced the decline in gas prices in Europe. A German newspaper wrote about this on November 2 Die Welt…
The author of the article recalled that on October 27, Putin instructed Gazprom to start planned work to increase the volume of fuel in European underground storage facilities. The head of the company, Alexey Miller, replied that the concern would do so, after which the president ordered to inform him about the progress of this work.
“This almost accidental remark by Vladimir Putin made the European gas market breathe a sigh of relief,” the article says.
The publication noted that after the words of the Russian leader, natural gas futures prices in the Netherlands fell by 15%.
“It (the energy crisis in Europe, – Ed. Note) showed that Russia undoubtedly dominates the market. <…> It is not yet clear how much additional gas the Russian company will supply, or it is about the volumes of supplies that have already been promised. However, the markets reacted immediately, ”the author of the article emphasized.
Earlier, on November 1, it was reported that the price of gas in Europe at the close of trading was able to win back the daily fall and rose to $ 816 per 1 cubic meter. m.
Before that, on October 29, the price dropped below $ 800 per 1,000 cubic meters. m for the first time since September 17. Then the overall price drop for the day exceeded 14%.
On the same day, the head of Rosneft, Igor Sechin, expressed the opinion that the gas crisis in Europe demonstrated the complexity of the energy and economy and the fragility of many existing systems. According to him, the ongoing events also made it clear that the energy transition should be balanced.
On October 27, the price of gas in Europe fell to $ 960 per 1,000 cubic meters. m after the announcement of plans to pump blue fuel by Gazprom into storage facilities in Europe. On that day, Russian President Vladimir Putin instructed the head of Gazprom, Alexei Miller, to increase gas pumping into underground storage facilities in Europe after filling Russian storage facilities.
On October 13, Putin announced that the rise in gas prices in Europe was the result of a shortage of electricity, and not vice versa. According to him, many European players were in no hurry to restore reserves in underground gas storages in the summer. Putin also denied speculation that the high quotes are in the hands of raw material producers.
The rise in gas prices on the European spot market began at the end of August and continued until the beginning of October. The price of blue fuel on October 6 at the London ICE exchange for November TTF futures at a gas hub in the Netherlands exceeded $ 1.9 thousand per 1,000 cubic meters. m, setting a new historical maximum.
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