Gas prices in Europe falling

Gas prices in Europe decreased by four per cent to $465 per 1,000 cubic metres on August 23.

September futures on the TTF index (the biggest hub in Europe, located in the Netherlands) opened trading at $471.7 (-2.5 per cent) per 1,000 cubic metres.

As of 09:29 (GMT+1), their cost is $464.5 (-3.9 per cent). The dynamics of quotations is based on the settlement price of the previous trading day - $483.6 per 1,000 cubic metres, Prime reports citing the data of the ICE exchange.

Gas prices in Europe in the middle of the month for the first time since June 15 exceeded $500 per 1,000 cubic metres. Price growth was driven by reports of possible strikes by workers at gas liquefaction plants in Australia.

Then prices reached $400 again, but Reuters reported on August 20 that Australian unions at Woodside Energy Group's offshore gas platforms located on the Northwest Shelf announced plans to strike on September 2, and this may disrupt supplies of liquefied natural gas (10 per cent world export).