“The fundamental factor that influences gas prices in Europe is gas prices in Asia.
That is, the so-called price arbitrage arises there, when a liquefied natural gas (LNG) producer chooses where to send tankers with their products, with their gas.
Of course, he chooses those markets where prices are higher, where he will get more profit.
It turns out that if prices in Asia are higher, then all tankers go there, and this happened, respectively, with Europe in 2021, ”the expert explained.
He added that throughout 2021, gas prices in Asia are higher than in Europe, and "all LNG tankers go there."
“Since China is consuming more and more gas, it turns out that a shortage of gas is forming in Asia, and as a result, the price there is growing, growing, but, accordingly, it is growing in Europe.
All LNG is gone, and if you want to buy a liquefied gas tanker, you have to give a similar price to the Asian price, ”Yushkov said.
According to him, the factor that the Europeans have not stocked up with gas in underground storage also has an impact.
“All summer they thought that the price was too high and everyone was afraid to buy gas ... As a result, the Europeans are approaching September and soon the heating season will begin, and in Europe there is little gas in underground storage facilities, which is also a certain anti-record.
This will mean not that Europe will freeze in winter, but that a lot of gas will have to be imported every day.
Therefore, market players are nervous and prices are rising, "the interlocutor of RT concluded.
Earlier it was reported that during the auctions the price of gas in Europe exceeded the $ 700 mark per 1,000 cubic meters.
The cost of the October futures on the TTF hub in the Netherlands on September 9 at 17:27 Moscow time exceeded $ 700 per 1,000 cubic meters.