The price of natural gas in Europe decreased by 13.5% to 98.17 euros, the lowest price since June, due to mild weather conditions and the filling of gas tanks in many countries. The gas futures contract price traded at TTF, the Netherlands-based virtual natural gas trading point with the deepest depth in Europe, was opened today at 104.75 euros per megawatt-hour.
As of 14:30 Turkish time, the price in question decreased by 13.5 percent compared to Friday’s closing to 98.17 euros and was recorded as the lowest price since June. The decrease in prices was due to the easing of concerns about energy supply during the winter months with the unusually mild weather conditions and the 95 percent fill rate of gas tanks in many countries.
It was noteworthy that in Germany, which was most affected by the energy crisis, gas storage facilities were filled faster than planned and the occupancy rate exceeded 95 percent. In addition, EU countries’ efforts to impose a gas ceiling in the TTF and the possibility of increased liquefied gas deliveries (LNG) to Europe eased concerns about insufficient gas supplies during the winter months.