OREANDA-NEWS Gas prices in Europe will remain at a high level until 2027, averaging at least $ 450 per thousand cubic meters, follows from the forecast of the International Energy Agency, which is referred to by Vedomosti.

It is expected that in 2024 the price of gas in Europe will be in the range of 500 to 535 dollars per thousand cubic meters. In the next two years, experts predict, against the background of the commissioning of new LNG plants, it will begin to decline, but it will still remain at a level that is more than double the figures of 2016-2020.

Earlier, gas in Europe rose in price by almost 15 percent against the background of a decrease in purchases by Egypt from Israel, which occurred after the suspension of production at the Tamar field due to the war with the Hamas group. The country uses part of Israeli imports to meet local demand, and prefers to export the rest in the form of LNG.

Against this background, it became known that the underground gas storage facilities (UGS) of the EU countries were filled to the maximum in the entire history of observations of 97.89 percent, which is immediately 8.54 percentage points higher than the average on October 16 over the past five years. Currently, there are a total of 107.75 billion cubic meters of gas in European UGS.