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January gas supplied by Russia to Europe was 1.7b m3 compared with 13b m3 average per month for the 2021 year. [32] The price of natural gas in Europe fell to an 18-month low in mid February of €49pmh with gas storage across the European Union at 65% capacity, well above the average of 45% at this time of year. [33]
However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe. [1] [2] Natural gas prices in the US had historically followed oil prices, but in the recent years [when?], it has decoupled from oil and is now trending somewhat with coal prices. [3]
Dutch and British wholesale gas prices fell on Thursday morning after steep rises this week, amid higher wind output and robust liquefied natural gas tanker supply, though concerns remain about ...
Europe's economic crisis deepened Monday as Russia further squeezed energy supplies to the continent, with German electricity prices soaring 23%. European natural gas prices surge 36% after Russia ...
Natural gas prices in Europe reached their highest point in September 2022 at a multiple of roughly 25 compared to two years prior. While gas prices are currently falling quickly on the spot market, the cost to distribute gas in the coming year will still be close to €150 per MWh, or a multiple of about seven. [93] [95] [96]
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
There is some disagreement on which country has the largest proven gas reserves. Sources that consider Russia in possession of the world's largest proven reserves include the US CIA (47,600 cubic kilometers), [ 2 ] the US Energy Information Administration (EIA) (49,000 km 3 ), [ 3 ] and OPEC (48,810 km 3 ). [ 4 ]
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