Gas price premium in Asia may persist until spring
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The price of gas on the Asian market will be consistently higher than on the European market throughout the winter of 2023/24 and until the end of March next year. This forecast was given in the September review by experts from the Gas Exporting Countries Forum (GECF). The organization forecasts that the so-called Asian premium will persist “for a six-month period from October 2023 to March 2024.”
In October, prices in Asia, according to GECF estimates, will be higher than European prices by an average of $2.1 per 1 million British thermal units (MBTU), i.e. by $75/1000 cubic meters. m. In November, the premium will be reduced to $0.2/MBTU (approximately $7/1000 cubic meters), in December it will increase slightly – to $0.6/MBTU ($21.4/1000 cubic meters). In January and February 2024, according to the GECF forecast, the markup will continue to grow and reach $1.3/MMBTU ($46.4/1000 cubic meters).
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