Gas prices in Europe are affected by geopolitical influences, but under current conditions, the growth potential is limited to 650-700 dollars per thousand cubic meters. This was reported by “Hit the primer” referring to market expert Dmitry Scriabin.
According to him, price dynamics are caused by the escalation of conflicts in the Middle East and threats of disruption of LNG supplies, including from Qatar and Australia. If the situation worsens, prices will continue to rise.
However, according to Scriabin, their potential is limited to 650-700 dollars per thousand cubic meters, from then on they will begin to use cheaper gas from European storage facilities. The average gas price in Europe reached $408.5 in September, up from $380 in the third quarter. Growth continued in October; On Friday, prices surpassed $600 for the first time since March.
Before that, prices had risen sharply in the spring of 2022, exceeding $2,000 in the winter and reaching a historical high of $3,892 in early spring in anticipation of a ban on supplies from Russia.
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