04.03.2022, 16:08
The Analyst Urged Not to Wait for the Normalization of Gas Prices in Europe in the Coming Months
Source: OREANDA-NEWS
OREANDA-NEWS. Aleksey Grivach, Deputy General Director for Gas Problems of the National Energy Security Fund, commented on Friday, March 4, on the message that in Europe the cost of natural gas with delivery in April exceeded $2,000 per 1,000 cubic meters. m.
According to the expert, this is due to the nervousness of the market about possible interruptions. Although there have been no interruptions in supply so far, there has not been a physical shortage, despite the fact that it has been talked about for quite some time.
“The second point is that the prices are very high, they are completely unbearable for consumers. In fact, there is no big difference between $1,500 and $2,000 for consumers. Both prices create enormous problems for the development of industry and for the supply of gas to end consumers, ”the expert said in an interview with RT.
Grivach also added that currently market prices on the spot are subject to serious volatility.
“They either rise or fall, they don’t stand still at all. But if the situation with gas supplies deteriorates for one reason or another, then this, of course, will lead to a sharp rise in prices. Even some rumors about this are already provoking such jumps. Normalization of gas prices in the coming months should not be expected,” Grivach concluded.
On March 3, the price of gas in Europe exceeded $2,250 per 1,000 cubic meters. m, having updated the historical maximum.
On the same day, British Foreign Secretary Liz Truss issued a call to European countries to strengthen sanctions against Russia. In particular, she proposed introducing restrictive measures against the oil and gas sectors, the 360 TV channel reports.
A day earlier, the price of gas in Europe hit a historic high. April futures at the TTF hub in the Netherlands reached $2,227 per thousand cubic meters, NSN reports.
According to the expert, this is due to the nervousness of the market about possible interruptions. Although there have been no interruptions in supply so far, there has not been a physical shortage, despite the fact that it has been talked about for quite some time.
“The second point is that the prices are very high, they are completely unbearable for consumers. In fact, there is no big difference between $1,500 and $2,000 for consumers. Both prices create enormous problems for the development of industry and for the supply of gas to end consumers, ”the expert said in an interview with RT.
Grivach also added that currently market prices on the spot are subject to serious volatility.
“They either rise or fall, they don’t stand still at all. But if the situation with gas supplies deteriorates for one reason or another, then this, of course, will lead to a sharp rise in prices. Even some rumors about this are already provoking such jumps. Normalization of gas prices in the coming months should not be expected,” Grivach concluded.
On March 3, the price of gas in Europe exceeded $2,250 per 1,000 cubic meters. m, having updated the historical maximum.
On the same day, British Foreign Secretary Liz Truss issued a call to European countries to strengthen sanctions against Russia. In particular, she proposed introducing restrictive measures against the oil and gas sectors, the 360 TV channel reports.
A day earlier, the price of gas in Europe hit a historic high. April futures at the TTF hub in the Netherlands reached $2,227 per thousand cubic meters, NSN reports.
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