Photo: Peter Powell / Reuters
Gas prices in Europe fell to multi-year lows, and the price on the Dutch TTF hub, the largest in the region reached 34 dollars per thousand cubic meters, reports “Interfax”.
This is almost two times lower than on the border of Russia, in the Smolensk and Pskov regions, where gas costs about $ 60, and even cheaper than in the Yamalo-Nenets Autonomous district, that is actually “in the well”.
Closer to Russia’s European site, which is located in Baumgarten, Austria, value Thursday, may 21, has reached 53 dollars per thousand cubic meters.
With contracts at these prices, “Gazprom” should pay 30 percent duty in the budget, and pay part for transportation costs. As previously analysts estimated that revenues from gas sales in Russia for the company compared with the export, it’s necessary to fuel European stocks were trading at $ 85.
The price of gas collapsed amid stop of the economy because of the situation with coronavirus and overflow storage. A lot of pressure on sales and provide supplies of liquefied natural gas (LNG), primarily from the United States.
Problems with the prices and volumes of supply has led to the fact that “Gazprom” in the first quarter of the year, for the first time in history was a loss, and substantial — 306 billion rubles. In previous years this period was the most important for the company to offset arise from time to time losses in the second and third quarters.
European dynamics while not affecting gas supplies in Russia and CIS. Lower prices Moscow asked Belarus and Kyrgyzstan, but Russian President Vladimir Putin has refused to take this step. He explained that rates are based on market conditions taking into account the cost and investment providers.
American companies are also beginning to suffer from the situation in Europe. Analysts expect that in July customers will cancel more than half of all purchase orders.
Video, photo All from Russia.