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Gazprom's accounts show the average price Europe paid for Russian gas fell to $169.8 per thousand cubic meters in the third quarter, a 32% drop from a year earlier and the lowest level in 15 years. Gazprom's export sales to Europe and non-CIS countries fell 37% year on year.
The decline is attributed to LNG competition pushing excess supply into Europe.
Cheap Russian and LNG gas in Europe signals a persistent global energy glut that weighs on energy-linked costs and gas-fired fertilizer economics. The direct effect on feed grain prices is small.
intellinews.combne IntelliNewsDec 4, 2019After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
