Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, commented to the Sputnik radio station on the impact of the weather factors on the growth of spot gas prices in the EU countries.
In an interview with Sputnik radio, Alexey Gromov explained that exchange gas prices largely depend on the weather.
Another temporary factor that could affect the rise in prices is problems with gas supplies from Norway, the expert continued."During the autumn-winter heating season, stock prices for gas in Europe are determined by the weather factors. Long-term forecasts are subject to high uncertainty, but it can be assumed that if the trend towards a cold winter continues, we will see a further increase in gas prices in the region in the near future. If the weather will again turn to heat, then gas prices may calm down. But so far we do not see such a trend, recently gas prices have continued to grow. I think, when predicting the real price of buying gas for European consumers, it is worth focusing on the level of 1200-1300 dollars per thousand cubic meters of gas," he said.
"There is a temporary factor that is associated with technical restrictions on the supply of Norwegian gas. Over time, the problems will be resolved. But this is not a panacea for the European market, because Norway, having solved its problems, will be able to restore supply volumes to traditional levels. Significant additional deliveries from this country to Europe are not expected," Alexey Gromov noted.
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