Analyst Demidov predicted an imminent fall in gas prices in Europe
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Their subsequent growth cannot be avoided anyway.
Amid German claims that its gas storage facilities are filling up faster than planned, gas prices in Europe have fallen to $2,900. According to Vladimir Demidov, an international resource and energy market analyst, they may soon drop to $2,500, but prices will begin to rise again in mid-autumn.
In an interview with Lenta.ru Demidov noted that the price adjustment was expected by the time the Germans fill their underground gas storage facilities and stop buying gas in large volumes. The expert believes that gas prices may fluctuate or even fall in the coming month, but after the start of the heating season from October to mid-September, price increases cannot be avoided.
According to the analyst, even with 100% filling of UGS facilities in Germany, at least six billion cubic meters of gas per month will be needed for a trouble-free passage of winter without rationing and rolling blackouts.
As Demidov noted, the Germans receive 2.5 billion from LNG, and France can provide them with another 0.4 billion monthly. Nevertheless, the expert suggests that Germany will still face a deficit in December. According to the analyst, the filling announcements have come in now to counterbalance the price increase that could occur on August 31 with the shutdown of Nord Stream. Demidov does not rule out that the price may even be corrected up to $2,500.
Read also: Germany made a statement on gas that dropped its price sharply
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