Europe predicts drop in global gas prices

Staff
By Staff
2 Min Read

The European Commission (EC) has indicated an anticipated decrease in global natural gas prices, citing an expansion in supply volumes.

This announcement came during a plenary session of the European Parliament, where Ursula von der Leyen, head of the EC, highlighted recent investments made during the energy crisis, resulting in the emergence of numerous new energy export initiatives entering the market.

Von der Leyen suggested that this trend might signify a transition from a period of global energy scarcity to one of abundance.

UK gas prices rise As a consequence, the President of the European Commission expects a decline in gas prices, which could facilitate further development of renewable energy sources.

Currently, European underground storage facilities are filled to 62.01% capacity, holding 67.92 billion cubic metres of gas, marking a substantial increase compared to the five-year average for this date.

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