European gas prices could fall below zero – traders ...News

Reduced energy consumption has been leading to a summer glut, Bloomberg reports Short-term natural gas prices in some parts of the EU could briefly dip below zero this summer if subdued demand doesn’t keep up with a growing supply glut, according to traders cited by Bloomberg. A situation when “producers effectively pay someone to take their gas” is looking ever more possible as prices plummet to pre-crisis levels, the traders claimed. “Individual regional gas markets in Europe could go negative when you have hours and days with renewable production,” Peder Bjorland, vice president for gas trading and optimization

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