European gas prices lower during December

Dec 22, 2022 thejournalbiz

Gas prices are slowly declining in Europe!

News of relief and surprise for the end of the year holiday a much needed relief for industries and governments

Tweet on lowering price of natural gas

Gas prices are sliding in Europe…that is considered to be a source of relief for industries and governments.

Benchmark gas futures are down 19% this week, and 36% so far in December#Gas #LNG pic.twitter.com/8k9VIUnVaN

— The_Journalbiz (@the_journalbiz) December 22, 2022

Factset Chart on Gas price

Benchmark gas futures are down 19% this week, and 36% so far in December. That has pulled them to the lowest since mid-June, when Russia began to throttle supplies through the Nord Stream pipeline.

An influx of liquefied-natural gas has helped. So have warmer and windier conditions. The weather has boosted renewable-power generation and quelled heating demand.

In contrast, last week, when icy weather spread across the continent, gas consumption vaulted. In Germany, household and commercial demand rose 28%, making it the first week of the winter when overall demand exceeded last year’s levels, data published Thursday showed.