Natural Gas Prices to Trend Lower as Russia will Increase the Supply of Natural Gas to Europe

Published: Oct 28, 2021 11:47

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Russian President Vladimir Putin said on Wednesday that once the domestic gas reserves are full, Gazprom will fill the gas reserves in Germany and Austria.

SHANGHAI, Oct 28 (SMM) - Russian President Vladimir Putin said on Wednesday that once the domestic gas reserves are full, Gazprom will fill the gas reserves in Germany and Austria.

This additional supply is likely to drive the natural gas prices to decrease. The CEO of the company said that the end time of domestic natural gas injection is one week longer than originally scheduled on November 1. The company has only injected a very small amount of natural gas into its European storage facilities so far. The supply of natural gas in the European market is worrisome as Russia focuses on restoring domestic natural gas storage, coupled with the low inventory of some of the company's sites in the European Union.

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