“There are fears that there is little gas in underground storage facilities and, accordingly, it may not be enough in winter, - because of this, traders increase the price on the exchange floors.
But at the same time, it is clear that winter may be warm and a large amount of gas in storage facilities may simply not be needed, ”the expert noted.
According to him, now there is "unhealthy excitement" and the price is inflating, which has already led to a reduction in gas consumption.
“It is clear that these completely unhealthy prices are not typical for the third quarter ... When they wait for some signals, then this unwinding can be stopped - for example, someone has increased production to supply gas to the market.
For example, Gazprom will say that they have pumped enough gas into their underground storage facilities, now they are increasing supplies, or Nord Stream 2 opens - accordingly, there are expectations of an increase in supplies ... Or, for example, a message from forecasters that winter will be abnormally warm, little gas will be needed — traders will start to play for a fall, ”the analyst concluded.
Earlier it was reported that the price of gas in Europe broke a record and exceeded $ 800 per 1,000 cubic meters.