Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

UK gas prices fall after Russia-Ukraine deal

UK natural gas prices fell the most in six weeks as Russia agreed to restore flows to Ukraine after a four-month halt, Bloomberg reports.

Russia said it will resume gas flows to Ukraine after it receives $1.45bn, the first tranche of debt repayments, and prepayment for November supplies under an accord yesterday brokered by the European Union.

Societe Generale SA, which cut its UK gas price forecast after the deal, said there are still risks of supply disruptions in the first quarter of 2015.

The EU, which had been trying to broker an agreement since May, sought to avoid a repeat of 2006 and 2009, when disputes between Russia and Ukraine disrupted flows to the region amid freezing weather.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.