Europe gas prices could jump over 30% this year: Report

European gas prices could surge by more than 30% this winter as the Israeli-US war on Iran threatens global energy supplies, according to Bloomberg Intelligence.

Prices are projected to rise to around 90 euros per megawatt-hour ($103), up from roughly 66 euros ($75), as attacks on Qatar’s Ras Laffan complex risk disrupting about 20% of global LNG flows, News.Az reports, citing Bloomberg.

The outlook suggests supply disruptions could persist even if tensions ease quickly, tightening markets and intensifying competition with Asian buyers.

Low gas storage levels across Europe may add further strain, raising concerns over affordability and energy security in the months ahead, the report said.

News.Az 

By Nijat Babayev