Gas Price In Europe Wins Back Part Of Morning Fall Over The Day
Date
7/11/2022 6:30:16 PM
(MENAFN- Trend News Agency)
Natural gas prices in Europe lost 6.7% during the day, having
managed to partially offset the morning drop, which amounted to
almost 12%, according to the London ICE Exchange, Trend reports citing
TASS .
August futures at the TTF hub in the Netherlands fell to $1,704
per 1,000 cubic meters or 163.5 euros per MWh on Monday.
In the morning Natural gas prices in Europe lost about 12% amid
the Canada's decision taken during the weekend to return the
repaired Siemens turbine for the Nord Stream gas pipeline.
August futures at the TTF hub in the Netherlands moved down to
$1,620 per 1,000 cubic meters or 154.5 euro per MWh on Monday in
early hours the trading session.
Although Canada on July 9, after numerous requests from Germany
and negotiations with its leadership decided to return the repaired
turbine, the date of this delivery is unknown. Siemens wants to
deliver the turbine as soon as possible after all the formalities
are settled.
The United States supported this decision of Canada, and the
European Commission (EC) said that the return of the turbine for
Nord Stream does not violate EU sanctions against Russia, since
they do not apply to gas transit equipment.
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