2023-09-24 17:00:00
In the summer of 2024, exchange prices for natural gas on the European energy market could be 20 percent lower than current levels. Bloomberg reports this with reference to the forecast of analysts from the consulting company Wood Mackenzie (WM), Day.Az reports with reference to Lenta.ru.
During trading, the price of October gas futures according to the index of the largest European hub TTF was around $415 per thousand cubic meters.
One of the main reasons for the sharp decline in prices in 2024, according to experts, will be a decrease in demand for this type of fuel from local power plants and sufficient gas reserves in underground storage facilities, which are estimated above normal on the eve of the heating season.
A significant increase in the share of renewable energy sources should also play a role in reducing gas demand next year. Against this background, the consulting company expects a reduction in gas consumption in the energy sector by 12 percent in 2024 compared to 2023.
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