According to the expert, the weather remains the main factor affecting the exchange prices for gas in Europe.
“It turns out that the longer the warm weather lasts, the more gas will remain in underground storage at the end of the heating season.
And this means that in 2023 Europeans will need to buy less gas in order to refill underground storage facilities in preparation for next winter.
And traders trading on the stock exchange assume that if there is no need to buy much further, then the price will be small and gas futures should be sold now, or at least not bought now.
Accordingly, demand and prices are declining,” Yushkov explained.
He also noted that the news about the readiness of the Freeport plant is a new factor affecting prices.
“In terms of capacity, it is twenty percent of the total capacity of liquefaction plants in the United States.
Last summer there was a fire on it, it was repaired for a long time and the commissioning dates were constantly postponed.
And just yesterday, the plant announced that it was ready to liquefy gas and, accordingly, export it to other markets.
This news is also pushing prices down in Europe.
Because more gas will leave the USA and come to the world market, including Europe.
This means shortages and prices will decrease.
And on the expectations of this, stock prices in Europe also begin to decline, ”concluded the interlocutor of RT.
Earlier it became known that exchange prices for gas in Europe dropped to $672 per 1,000 cubic meters.
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