International analysts believe that the cost of “blue” fuel in the European Union will increase in the next three years.
The international rating agency Standard & Poor’s (S&P) has made a forecast for the prices of natural gas in the EU in the coming years. They believe that due to the reduction in Russian gas supplies through the Nord Stream-1 pipeline, the cost of “blue” fuel will increase. The agency announced this on Wednesday, August 3.
S&P specialists’ forecasts have changed due to
According to analysts, in the Dutch TTF hub, by the end of this year, the cost of gas will average $50 per 1 million British thermal units (BTU), $40 next year and $25 in 2024.
“This large increase reflects the possibility that Russian pipeline gas deliveries will remain at historic lows, making it more difficult for Europe to obtain sufficient stocks and supplies during the winter,” said of the statement.
The revision of the preliminary forecast is also due to a jump in quotations on the spot and futures markets.
According to the old forecast, gas should cost $30 per 1 million BTU by the end of this year, $25 in 2023, and $15 in 2024.
At the same time, estimates of the cost of gas in other regions and oil remained unchanged.
Remember, on Monday, Russian Gazprom announced that from July 27 it will reduce gas supplies through Nord Stream by 1 to 33 million cubic meters per day. Thus, the gas pipeline will operate at only 20% of the total capacity.
Earlier, the company said it “has questions” about Canadian documents on Siemens’ turbine for the SP-1.
In turn, Siemens Energy sees no connection between the situation with the turbine and the reduction in gas supplies through Nord Stream-1.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.