The price of natural gas in Europe eased to 45 euros per megawatt hour, holding close to one-month lows of around 44.50 euros reached earlier in November. At this level are the December futures of the Dutch gas hub TTF.
Solid stocks and regular deliveries
The reason is the solid reserves in gas storage facilities and the strong flows of liquefied gas supplies, which limit the possibility of an increase in the price of the blue fuel.
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“We continue to have stable supply from the European base routes – Norway and liquefied natural gas (LNG), which is a stabilizing factor in addition to the 99% filled gas storages on the old continent,” London Stock Exchange Group analyst Yury Onishkiv told Reuters.
Analysts at Goldman Sachs bank cited by Bloomberg also cut their gas price forecasts in Europe due to better than expected supply and demand balances.
In Bulgaria it is the other way around
The exact opposite of these forecasts is the situation in Bulgaria. “Bulgargaz” today submitted an application for a new increase in the price of natural gas by 7.9% from December 1, asking it to be BGN 88.61 per megawatt hour, according to the website of the Commission for Energy and Water Regulation (KEVR).
On November 1, the price of natural gas rose sharply by more than 30% to BGN 82.12 per megawatt hour, and the price was motivated by the increase in prices on the European markets.
More: Final: “Bulgargaz” offered 36% more expensive gas for November