Gas futures traded in Amsterdam have dropped by approximately 10% since the beginning of the month, reaching their lowest point since May, AzVision.az reports, citing Bloomberg.
While most traders do not expect a swift return of Russian pipeline gas to Europe—even in the event of a ceasefire agreement in Ukraine—any shift in sanctions on Russian energy exports could significantly impact global supply dynamics.
Despite the recent decline, European gas prices remain above pre-crisis levels. The continent’s energy market has been under strain since the start of Russia’s full-scale invasion of Ukraine.
Currently, the majority of Europe’s gas is imported from distant suppliers such as the United States and Qatar. Russian deliveries accounted for less than one-fifth of total imports last year. At the same time, Europe faces strong competition for these supplies from major Asian buyers.
AzVision.az
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