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 Gazprom’s decision to increase gas supply to EU has brought down the price to $240

Gazprom’s blackmail and EU gas blockade in order to stop reverse gas to Ukraine turned into a fiasco. The decision of Gazprom to lift the limit on gas supplies to Europe, which were introduced to stop the reverse of gas supplies to Ukraine, brought down the price to $240 per thousand cubic meters at gas hubs in the region.

On Friday, Gazprom suddenly decided to remove restrictions on the supply of gas to Europe through Ukraine which were in force for the last six months. Gazprom hoped to bring an end to the reverse of gas from the EU to Ukraine, but this did not happen, Censor.NET reports citing Interfax-Ukraine.

Read also: National Commission for State Energy Regulation has increased gas tariffs for residential consumers by 3.3 times

At the British NBP gas with a 24 hour delivery fell to a 44.7 pence per MMBTU ($240,3 per thousand cbm) on Friday. On Thursday, the trading closed at $257, with the year's high at $304 on Feb. 12.

At the Austrian CEGH hub in Baumgarten (receives Russian gas through Ukraine) the deals with Monday delivery were concludes at $243.

 
 
 
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