Dutch front-month gas, Europe’s benchmark, traded 2.4% higher at €119 per megawatt-hour by 8:43 a.m. in Amsterdam after losing 5.8% a day earlier.

«Несмотря на внешнее санкционное давление на Россию и Иран, торгово-экономическое сотрудничество между нашими странами продолжает демонстрировать устойчивый рост», – подчеркнул Александр Новак.

“Türkiye, due to its geographical position, is an energy corridor from Russia, Iran, and Saudi Arabia. Any kind of natural gas or oil that is going to be transported or shipped, will cost less and will be shipped more safely,”

Europe’s gas storage sites are nearly 95% full, providing a buffer for when the weather turns colder. Reserves in the biggest gas consumer, Germany, have risen to 99%, according to Gas Infrastructure Europe.

Aramco announces third quarter 2022 results Q3 net income rises 39% YoY to $42.4 billion; free cash flow increases to a record $45.0 billion

The recent fall in European gas prices may not last, according to Italian energy major Eni SpA. “It’s a temporary situation,” Chief Executive Officer Claudio Descalzi said in Abu Dhabi. “We have problems in 2023 because in 2023 we don’t have Russian gas.”

The push to fill storage facilities before the start of winter has been successful -- with many close to capacity. But some suppliers may now want to hold back those reserves until they can sell their stored gas at more attractive rates.

Dutch front-month gas, Europe’s benchmark, rose 3.4% to €111 per megawatt-hour at 8:57 a.m. in Amsterdam, paring some of the weekly decline.

While US fuel now makes up 40% of Europe’s liquefied natural gas imports, it will only offset a fraction of the deficit from Russia next summer,

Lower Russian supplies sent European gas prices to all-time highs in late August though prices have come down sharply as storage sites across the EU were filled to close to capacity.

Concluding the plenary part, Maksim Malyarchuk, Executive Director of the Russian-Iraqi Business Council at the Chamber of Commerce and Industry of the Russian Federation, spoke about the activities of the Council and assistance to Russian and Iraqi companies in the new conditions.

As the cleanest hydrocarbon fuel, natural gas is seen as the perfect solution that strikes the right balance, and will continue to play a key role in the future energy mix.

Further in 2023, consumption is forecasted to increase by up to 1.1% driven by China, South and South East Asia and the Middle East.

Российская сторона поддерживает повышение международной роли ФСЭГ, включая предложения расширить число участников Форума и его диалоговых партнёров.

«Россия и Катар единодушны в том, что мировая торговля энергоресурсами должна быть деполитизирована и свободна от односторонних ограничений или решений, направленных против свободного рынка», – сказал Николай Шульгинов.