Exchange prices for gas in Europe fell to $660 per thousand cubic meters in trading on Monday. It was the first time since September 2021, data from London's ICE exchange showed.

February futures on the index of Europe's largest Dutch hub TTF at the beginning of trading were at $728.6 per thousand cubic meters. They added 0.2%. However, at 11:22 Moscow time the gas futures had already shed 9.2% to settle at $660 per thousand cubic meters.

The price movement of gas futures is given as compared with the settlement of the previous trading day, Monday - $727.1 per thousand cubic meters.

The average exchange price for gas in Europe in 2022 was $1,260.8, according to the ICE data. On the TTF spot the price fluctuated at the level of $200-300 in spring 2021, after which the energy prices started to grow sharply.

The natural gas prices were especially high in March 2022 - then, due to fears of announcement of a ban on the Russian energy carriers purchase, the prices jumped up to $3,892 per thousand cubic meters.

Later on, the price went up and down several times: in May the futures prices were $1000-1100 per thousand cubic meters, in June - $2,450, and on the spot - up to $3,200. It was only by the end of the year that futures prices dropped to $850 per thousand cubic meters.