Europe expects that the "Beast from the East" will not be so evil: gas has received a respite

On Monday, gas prices in Europe fell slightly and won back the previous increase by a whole third. Meteorologists expect that the Arctic air masses, which are called the "Beast from the East," will not bring too low temperatures.

On January 19, gas began to become cheaper in Europe. By the evening, the cost of deliveries on the TTF exchange dropped to $ 426. Compared to Friday, the quotes fell by 7%. But they did not win back the previous growth by as much as 33%, which occurred due to forecasts of the return of Arctic air masses to Europe in the third decade of January.

"This cold air is moving and very impressive," Judah Cohen, a research fellow at MIT and director of seasonal forecasting at Janus Research Group, told Bloomberg.

Meteorologists expect that cold air masses from Siberia will pass through the continent and, for example, in Poland and In Estonia, the thermometer will drop 8-10 degrees Celsius below normal.

The situation is worsened by the fact that cold masses have come to Asia is already being covered by the north of China.

"In Seoul, the average temperature will be -7.7°C until Sunday, and in Beijing and Shanghai, according to forecasts by Vaisala XWeather, there will also be subzero temperatures all week," writes Bloomberg.

So far, the gas price in Asia is $395 and Europe remains a premium market for LNG.

As EADaily reported, frosts and countries came to Europe for the New Year holidays The EU has dramatically increased gas extraction from storage facilities. By this season, companies had accumulated less fuel (by 14 billion cubic meters), but before the New Year, consumption was also lower. Active selection since January, however, has left the storage immediately without almost 13 billion cubic meters. On January 7 and 8, reserves decreased by almost 1 billion cubic meters per day. At this rate, the UGS may simply run out of gas by March.

In response, European companies increased LNG imports to record volumes, including Yamal gas.