Spot gas prices in Europe on January 16 fell by almost 10% to $635 per thousand cubic meters, which is equal to the level from September 2021. Since the beginning of the year, prices have fallen by 22%. According to Bloomberg, this was facilitated by: a long period of mild weather, sluggish demand for LNG in China, and high production at wind farms in Germany and the UK. However, according to experts, the crisis provoked by a significant reduction in gas supplies from the Russian Federation after the invasion of Ukraine is still far from over.
EU gas prices has fallen to autumn 2021 levels.
EU gas prices has fallen