The European Union’s Potential Hazards According to Bloomberg

Bloomberg, citing energy analysts, said natural gas prices in the European Union are expected to rise before next winter, putting the region at risk of a renewed energy crisis.

The agency cited Goldman Sachs analyst Samantha Dart as saying gas futures prices could rise above €100 ($110) per megawatt-hour, or more than $1,000 per thousand cubic meters, compared to €40 ($44) per MWh

“The early cold of winter is the worst,” the energy expert said in an interview on the sidelines of her participation in the gas conference in Amsterdam, adding that prices above 100 euros are “very realistic”.

Last August, gas futures contracts in the European Union hit a record €345 ($380) per megawatt-hour, but a mild winter, efforts to reduce consumption and weak LNG demand in China pushed prices in Europe reached the current level. .

However, experts are unsure if these factors will continue and warn that consumer inaction could put pressure on the market later in 2023.

Source: Bloomberg.

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