According to the International Energy Agency, gas prices in Europe will remain high until 2027. On average it will be at least 450 dollars per 1000 cubic meters. metre. This has been reported “Vedomosti”.
The agency’s report states that supply and demand in the global and European gas markets are gradually balancing. However, due to limited supply in 2024, the price is expected to increase by approximately 10% to $500-535 per 1000 cubic meters.
With the commissioning of new LNG facilities in 2025-2026, prices will drop to $464 per 1,000 cubic meters. metre. This is more than double the 2016-2020 level. On October 13, spot prices in the EU exceeded $600 per 1000 cubic meters. meters, although the gas storage capacity is 97%. Growth continued due to the threat of strikes against LNG facilities in Australia and a decline in wind production in Europe.
The IEA believes that higher prices will lead to a decline in gas demand in Europe. It fell 14% in 2022 and could fall another 7% in 2023, to 489 billion cubic meters. metre. Experts agree that normalization of prices is not possible before 2026 due to the increase in global LNG production.
Natural gas prices in Europe last week reached Record value since the beginning of March 2023.
Previously in Russia in the name The limit of possible increases in gas prices in the EU.