The expert assessed the possible problems of Europe due to high gas prices

Analysts share their gloomy forecasts regarding the future prospects of the European oil and gas market, as well as the electric power industry of the region as a whole.

Some of them are of the opinion that the industry in Europe may start working intermittently due to high prices for «blue fuel». In recent weeks, the EU has faced a rapid rise in gas prices, which leads to higher electricity prices.

Back in August, the estimated price of the futures was about $515 per thousand cubic meters, and by the end of September, the indicator had more than doubled. At the same time, on October 6, prices even updated the historical maximum at $1937. Now the price of futures in Europe is holding slightly above $1000 per thousand cubic meters.

Experts believe that the current high prices will remain so and will even be at risk of spikes. This may lead to some problems in the area of demand caused by prices. We are talking about closing or reducing the hours of operation of gas-intensive consumers in order to achieve a market balance.

However, today everything is not so tragic. The European Commission emphasizes that there is enough gas in the storage facilities for the European Union to pass the winter, and there are no risks to the stability of energy supply yet.