Benchmark natural gas prices in Europe fell 9% after an increase in liquefied natural gas (LNG) imports, even despite cold temperatures in the region, Bloomberg reported, citing Agerpres.

At the TTF hub in Amsterdam, where benchmark prices are set in Europe, gas futures for delivery next month were down 4% at 133.55 euros per megawatt-hour around 11:03 a.m., after hitting their lowest level since Dec. 2. was recorded earlier.

Volumes arriving at three UK LNG terminals are at record levels for this time of year, according to data analyzed by Bloomberg. Fuel supplies to northwestern Europe are also close to a record.

The cold temperatures are the first real test of Europe’s resilience this season after Russia shut down most gas pipelines. Natural gas prices have been higher in Europe in recent weeks, but there were no major swings until Monday, even as the north of the continent is freezing and London is covered in snow. Temperatures are expected to rise in southern Europe next week.

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Imports of liquefied natural gas increased as Europe began to replace the fuel it received from Russia. Germany’s first floating LNG terminal is due to arrive at the port of Wilhelmshaven this week, with gas flow starting on December 22.

Gas storage facilities in Europe are about 88% full, higher than usual for this time of year, and in Germany, the region’s largest economy, the level is 94%.

There are other factors easing the pressure on the European gas market, including the increase in pipelines from Algeria to Italy. In addition, wind power generation in the UK and Germany is expected to pick up from next week after a period affected by low wind speeds.

In addition, France’s nuclear power production reached its highest level since March.