Gas prices in Europe may return to the range of $600-800 per thousand cubic meters again in the fall of 2023 due to a sharp heat wave or an early cold wave. About this RIA Novosti declaration Analyst FG “Finam” Sergey Kaufman.
“The cost of gas at the beginning of the heating season will primarily depend on weather conditions. If the weather gets warmer in the summer and the warming season starts early, we see that it is likely that the prices will return to the range of 600-800 dollars per thousand cubic meters.”
According to him, if there is no abnormality in weather conditions or force majeure, natural gas prices will be in the range of 200-300 dollars per thousand cubic meters. At the same time, LNG supply is currently quite high and demand from China has not increased, contrary to analysts’ forecasts. In this way, Europe can calmly prepare for the upcoming heating season.
He added that oil and gas companies that depend on market prices will experience a decline in profits this year.
6 May Maros Sefcovic, Vice-President of the European Commission declarationHe reported that the European Union (EU) has launched a joint gas purchasing mechanism to help countries fill their storage facilities for the upcoming heating season. In addition, fuel prices are expected to decrease thanks to this measure.