A pipeline designed to transport Russian gas to the EU. File photoMOSCOW, Oct 7Exchange gas prices in Europe, nearing the close of Friday trading, fell below $1,550 per thousand cubic meters for the first time since July 21, losing a maximum of 14%, according to data from the London ICE exchange. Friday's trading of futures contracts on the TTF index opened with a sharp decline, at around 1681.3 dollar per thousand cubic meters (-6.5%). During the day, prices fell by about 10%, holding near $1,600. However, as the close approached, the rate of decline accelerated and fell below $1,550. The minimum trades so far is 1546.5 dollars per thousand cubic meters (-14%). As of 18.36 Moscow time futures are traded for $1564.6 (-13%). The dynamics is based on the settlement price of the previous trading day — $1,798.7 per thousand cubic meters.Media: Germany offered the EU to negotiate with Asia to reduce gas pricesThe average settlement price of the nearest futures in September fell to $2,093 (-14.6%). In May, the figure was $1,030, in June — almost $1,180 (+14.6% in monthly terms), and in July — about $1,805 (+53%). In August, the price slightly exceeded $2,450 (+35.7%), which was a record in the history of gas hubs in Europe since 1996. International sanctions have affected the decline in Russian gas exports to Europe. Due to non-payment of gas under the new scheme in rubles, Gazprom stopped deliveries to Bulgargaz to Bulgaria, PGNiG to Poland, Gasum to Finland, Gas Terra to the Netherlands, as well as Shell Energy Europe to Germany and Orsted to Denmark. Deliveries via the main route, Nord Stream, as well as via Yamal-Europe, have ceased, and the Ukrainian gas transmission system has significantly decreased. But back in early March, gas prices in Europe due to fears of a ban on the import of Russian energy resources for four days in a row updated all-time highs. The price record of $3,892 per thousand cubic meters was reached on March 7. The last explosive growth, at the end of August, was associated with the announcement of Gazprom about the suspension of the Nord Stream gas pipeline for three days for scheduled maintenance. Quotes jumped above $3,500 per 1,000 cubic meters and broke historical settlement price records several times.
