The European gas price is at its lowest in over three months. The price is going down, among other things, because large quantities of liquefied natural gas (LNG) are currently reaching Europe.
These are the highest numbers around this time of year since 2016. Continued mild autumn weather is also expected to reduce the gas needed to heat homes in the coming two weeks.
The price for a megawatt hour of gas on the leading Amsterdam gas exchange was almost 8 percent lower on Monday morning at approximately 144 euros.
The gas price is, therefore, more than half lower than during the peaks that could be seen at the end of August, helped by increasingly well-filled gas stocks in Europe. However, the price remains much higher than expected due to Russia’s sharply reduced gas supply.
More and more measures are being taken in Europe to save gas. In addition, Norway is in the process of increasing gas supplies to Western Europe.
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