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Euro Gas Still High But Maybe Reasonable: RWE

NATURAL GAS

European gas prices have reached a level that is “still high but maybe reasonable,” according to CEO of RWE Supply & Trading Andree Stracke.

  • He suggests the market has done well to pass the peak last year and in the long term prices could fall when new supply enters the global market.
  • Prices of 12$/mmbtu or 30-40€/MWh are not sustainable and requires additional supply and ways to make Europe an attractive market in the long term.
  • High gas prices and supply response was a “disadvantage” for the rest of the world, especially Asia, with gas taken from the other markets.
  • He said the current price caps are not impacting the market with levels far higher than the current market price. He added the interventions are not in general the best tool to use and “you need to let the markets work”.
Energy BulletsCommodities
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