The spot price of gas in Europe continues to decline on Thursday. The pressure on the asset was exerted by yesterday's statement by Gazprom about plans to start pumping gas into the European Union's storage facilities. As you know, Gazprom does not comment on its plans to work in the European market in principle, so any technical details or new information on this topic have a strong impact on the market. However, yesterday, Russian President Vladimir Putin at a gas meeting instructed Gazprom to deal with reserves in Europe (after the completion of pumping into Russian UGS). It is noted that the pumping into the EU should begin from the second week of November. On this news, the cost of gas in Europe dropped to 76.525 euros per MW/h, or $918 per thousand cubic meters. A little later, the price recovered slightly – to the level of $942. Yesterday's trading closed at $1,062 per thousand cubic meters. Following the European news, gas prices in Asia also went down: December futures for the Asian spot index JKM Platts dropped to $1,210 per thousand cubic meters. The March futures fell the most – to $996.
