In Europe, gas futures fell 9.2% on average monthly to $1,030 in May.
The decrease in the cost of gas has been caused by a decline in demand since the beginning of the summer. The prices were almost unaffected by the termination of Gazprom's supplies to Finland, the Netherlands and Denmark, RIA Novosti reported.
The experts stressed that the gas market remains unstable due to the unclear situation with the embargo. The direction of gas quotations in the short term can't be predicted.
The freight cost (contractual or legal price for shipping cargo) of LNG tankers is close to a 10-year high.
According to Clarksons Platou Securities, the freight price has reached $120,000 per day, up 50% from 2021. In 2022, the process began noticeably earlier, and companies are trying to negotiate lower prices by chartering tankers for a longer period.