The price of European natural gas fell to its lowest level in about a month on Thursday ahead of the EU energy ministers’ meeting this Friday. At their meeting, the heads of department want to discuss solutions to the extremely high energy prices. A price cap for Russian gas imports is also up for debate.
The price of the TTF futures contract for Dutch natural gas fell by almost eight percent in the morning. At around 197 euros per megawatt hour, the price fell below the round mark of 200 euros for the first time since the beginning of August. The TTF contract is often used as a guide to European price levels.
Only at the beginning of the week did the gas price skyrocket towards 300 euros due to the temporary stop in deliveries via the important Nord Stream 1 pipeline. The Gazprom group gave technical problems as the reason. However, it is assumed that Russia wants to put even more pressure on the West in the conflict over Ukraine.
