# Hoping for cheaper gas to come, Europe reverses Russian link to tap storage

> Europe reversed flows on a Russian gas pipeline link to draw on storage, adding to the price surge. The benchmark European gas price reached an all-time high above 180 euros per megawatt hour in the prior week, versus about 19 euros at the start of 2021.

- Date: 2021-12-30 · published 2021-12-30T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/43783-hoping-for-cheaper-gas-to-come-europe-reverses-russian-link-to-tap-storage
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Record European gas prices raise energy and nitrogen fertilizer production costs, supporting higher prices for feed inputs and grains.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-12-14 | [Europe facing record low gas storage by winter's end](https://feedsoft.ai/events/43785-europe-facing-record-low-gas-storage-by-winter-s-end.md) | -1.2% | +7.3% |
| NATGAS | 2021-10-01 | [European gas prices hit all-time highs as Russian flows slump \| Reuters](https://feedsoft.ai/events/44762-european-gas-prices-hit-all-time-highs-as-russian-flows-slump-reuters.md) | -0.5% | +0.2% |
| NATGAS | 2026-08-27 | [Europe’s gas stores are running low — and prices could top 100 euros](https://feedsoft.ai/events/18060-europe-s-gas-stores-are-running-low-and-prices-could-top-100-euros.md) | +3.2% | +11.3% |
| NATGAS | 2026-03-03 | [Europe's skimpy gas storage under scrutiny as Qatar halts LNG flows \| Reuters](https://feedsoft.ai/events/20367-europe-s-skimpy-gas-storage-under-scrutiny-as-qatar-halts-lng-flows-reuters.md) | +7.0% | -3.1% |
| NATGAS | 2021-11-03 | [Explainer: Why Russian exports hold sway over European and British gas prices](https://feedsoft.ai/events/44229-explainer-why-russian-exports-hold-sway-over-european-and-british-gas-prices.md) | -7.5% | -21.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/hoping-cheaper-gas-come-europe-reverses-russian-link-tap-storage-2021-12-30/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.