The price of European natural gas continues to fall from a high level. On Monday morning, the much-noticed futures contract TTF for Dutch natural gas cost a low of 144 euros per megawatt hour. That was about five percent less than on Friday. The TTF contract serves as a benchmark for the general price level on the European natural gas market.
The situation on the gas market, which had been very tense for a long time, has recently improved somewhat. The background to this is the fact that European natural gas storage facilities are now well filled and political efforts are being made to curb natural gas consumption.
Regardless, natural gas still costs a lot more than it did before the Ukraine war began. The background is Europe’s high dependency on Russian natural gas supplies, which have gradually been reduced over the past few months. Replacement deliveries come in particular from Norway or, in the form of liquid gas, from the USA, for example.
