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EU Gas Still At Risk of Volatility and Price Spikes in 2024: Trafigura

NATURAL GAS

European gas prices are still at risk of high volatility and spikes next year despite the gradual softening in 2023 according to Trafigura.

  • “Although 2023 brought a gradual softening of gas and power prices in Europe on the back of a mild winter, lower demand and increased LNG imports, we expect markets to remain turbulent and prone to spikes in 2024,” it said.
  • Trafigura Group was one of the companies to store some natural gas in underground storage in Ukraine ready for re-export back to Europe according to financial report published Friday.
  • The volumes were not disclosed but the company added gas operations in EU member states close to Ukraine have been expanded.

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