A Sharp Decline in Gas Prices in Europe After Putin’s Statements

Russian Deputy Prime Minister Alexander Novak said on Wednesday that certification of the Nord Stream 2 undersea gas pipeline could soften the crisis due to hiking European gas prices.

Gas prices in Europe fell today below the level of $1,000 per thousand cubic meters after Russian President Vladimir Putin expressed Russia’s readiness to help Europe with the gas crisis it is facing.

TASS news agency reported that gas futures contracts fell at the beginning of trading below the level of $1,000 per thousand cubic meters.

Gas prices ended Wednesday’s trading at $1,260 per thousand cubic meters, after the Russian President expressed, during a government meeting yesterday, Russia’s readiness to help Europe in the gas crisis, that is, to help achieve gas stability in Europe.

Gas prices have been dropping since yesterday, and the British Financial Times linked the drop in gas prices to statements made by the Russian President.