Gas prices in Europe drop to $1,100

European gas futures for January have fallen in price for the first time since December 7 below $1,100 per 1,000 cubic meters, Report informs referring to the London stock exchange ICE.

Futures prices at the opening of the trading session decreased again, for the seventh session in a row: the value of the TTF index slightly exceeded $1,100, which is about 2% lower than the calculated price on December 29 ($1,127.2). Then the prices dropped to $1,100.

The decline in prices in recent days may be due to additional supplies of LNG to Europe from abroad and an increase in electricity generation at European wind farms.