GAS prices have exceeded $500 per thousand cubic metres in Europe, with European gas futures reaching around €46 ($48.6) per MWh as Russia suspended fuel deliveries to Austria’s OMV.
“The gas dynamics in 2025 will be influenced by a tighter gas market as a result of rising global demand, particularly from China and the Asia-Pacific region, Trump’s tariffs and EU boycotting Russian gas and also a cold winter,” Dr Mamdouh G Salameh, an international oil economist and a global energy expert, tells Sputnik.
Salameh projects that European consumers will see a price rise of three per cent-five per cent from €37-€38 ($39- $40) per megawatt-hour (MWh) in 2025.
Gas prices have been on the rise since July, according to Bloomberg. The upward trend was facilitated by chilly weather and plummeting wind generation this year.
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