The foreign exchange price of natural gas in Europe’s leading markets will likely remain higher for a few more years. Despite the relative decline in fuel prices in March-April this year, the gas price in the European energy market is currently twice the average of the last 10 years, informs British newspaper The Telegraph cites the words of a senior analyst at ICIS for the liquefied natural gas (LNG) market.
April 19 Currency prices for gas in Europe fallen under $500 per thousand cubic meters. At the time of trading, currently commodity prices on the ICE site in London are down 1.3% from the previous day’s close to $477.3 per thousand cubic meters. The main reasons for such dynamics were adequate fuel reserves at underground gas storage facilities in European Union (EU) countries, as well as relatively favorable weather conditions in the region.
“We don’t expect big price increases this summer as we saw last year. “We should also note that although prices have dropped from last year, they are about twice the average long-term prices over the past decade and may remain higher for several years,” Frawley said.
April 18, representatives of the press service of the Russian energy holding “Gazprom” declarationEuropean countries spent the current heating season without serious disruptions, largely due to relatively favorable weather conditions. But there may be no guarantee that such a climate “gift” will be repeated next year.