Prices for gas predicted a sharp drop

The head and largest shareholder of the NOVATEK gas company Leonid Mikhelson predicted a sharp drop in gas prices in 2022. He made such a statement within the Eurasian Economic Forum, his words lead RIA Novosti.

According to Michelson, the stabilization of prices on the global gas market will occur in the second quarter of next year. “At this volatile gas market, it is impossible for a long time, winter will probably be heavy, but from the second quarter the market still stabilizes, dramatically deciding”, “the businessman said. At the same time, the decline will be limited and will not reach the level on which prices were in 2019.

Earlier, market participants were expressed in favor of preserving high prices for gas in Europe in the foreseeable future due to cold weather in the region. This opinion was expressed by the German oil and gas company WINTERSHALL DEA and the deputy head of Gazprom Vitaly Markelov.

Since the end of August, gas prices in Europe began to grow sharply. As a reason, experts called a record low level of completion of European storage facilities and supplies. For two months, the price has repeatedly installed the maximum values ​​in history.

At the time of closing the trading session on October 28, the contract with the delivery in November at the Rotterdam Hab TTF cost 75.6 euros per megawatt-hour, or 930.8 dollars per thousand cubic meters.

/Media reports.