Europe does not buy gas due to a surplus of fuel: Ukraine proposed an unexpected solution
LNG tankers lined up around European ports with nowhere to unload gas.
The price of gas in Europe over the past month has decreased by 8 times against the backdrop of low demand and a warm autumn. This was announced by Deputy Minister for European Integration Yaroslav Demchenkov on his page on the social network Facebook.
According to him, Europe has almost 100% filled its underground storage facilities with gas, and because of the warm weather, the demand for "blue fuel" is not increasing yet. Therefore, as Yaroslav Demchenkov notes, LNG tankers lined up around European ports, which have nowhere to unload gas.
"As a result, the price of gas in the EU over the past month has already fallen eight times and continues to decline," Yaroslav Demchenkov said in a statement.
The official believes that sooner or later the demand for gas will still grow. And then traders who cannot sell fuel now will do so in a few weeks and at a much higher cost.
Meanwhile, Ukrainian Energy Minister Herman Galushchenko suggested that European partners store gas in Ukrainian gas storage facilities.
"We have a system of underground gas storages, which is the most powerful in Europe and the third in the world - with a total volume of more than 30 billion cubic meters. About half is used for Ukraine's own needs. Thus, we are ready to offer free gas storage capacities to foreign customers – up to 15 billion cubic meters,” the official wrote on Twitter.
Recall, earlier Focus wrote that Ukraine began to increase imports of natural gas from Europe, against the backdrop of lower prices for blue fuel. So, on October 15-16, the volume of deliveries increased to 9.4-9.5 million cubic meters. m, and on October 17 - up to 7.8 million cubic meters. m.
It was also reported that the European Commission (EC) has developed a plan to limit gas prices. It provides for a mechanism for a "dynamic" ceiling on gas prices in the EU and mandatory limits on price fluctuations within one day.