Media: Gas prices in Europe will remain above 100 euros for three years

The European Community of Experts has announced that gas prices in the European Union will remain above 100 euros for the next three years, which will lead to the transfer of money from Europe to producing countries.

According to the Italian newspaper La Repubblica, it is possible that the European industry will also undergo a process of transformation, which, given the high cost of energy resources, must remain competitive on the world market.

The newspaper added that, despite the high prices associated with speculation, the price of gas is determined by market mechanisms, primarily the ratio of supply and demand.

“Gas futures prices will rise for some time because European countries will have to pay a surcharge for attracting liquefied natural gas to replace Russian gas,” the newspaper quoted European Central Bank President Christine Lagarde as saying.

According to her, Europeans tend not to enter into long-term obligations, and futures prices are already programmed for seasonal demand growth.

Despite the reduction in prices due to favorable weather in Europe and the postponement of the heating season after the “race” caused by urgent refueling of UGS facilities, the cost of gas remains higher than before 2021. More than 40% of electricity is produced.

Source: TASS