EU gas prices are falling due to full gas storages, and traders have switched to Ukrainian gas storage.

Futures on the TTF hub in the Netherlands fell 1.7% to €29.97 per MWh (about $350 per thousand cubic meters), according to data from the ICE exchange. Bloomberg notes that sluggish demand after last year’s energy crisis and high gas storage levels are helping to keep prices down. Gas storage facilities in the EU are more than 87% full, slightly less than the bloc’s mandatory November target of 90%.

Meanwhile, European gas traders have started storing natural gas in Ukraine, despite the war risks, to take advantage of lower prices and available capacity. Czech EPH group told Reuters that its decision to use Ukrainian storage was also a sign of confidence in the country.

In turn, Ukrtransgaz stated the positive dynamics of gas injection by foreign traders into Ukraine gas storage. Slovakia’s state-owned SPP said it is considering using Ukrainian storage facilities, as Slovakian storage facilities are already 90% full.