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Germany Expects Elevated Natgas Prices Through 2027


Germany expects high natural gas prices to continue until at least 2027, according to a report approved by the German Cabinet on 16 August.

  • Natural gas prices could rise in the coming months as forward prices at the end of June indicated that there may be an increase in wholesale market prices to about €50/MWh, analysis by the economy ministry indicated.
  • Expectations are normalizing and imply a return to pre-crisis levels within four years.
  • The prediction of elevated prices echoes comments made by INES which said that Germany could continue to be at risk of natural gas shortages until the 2026/2027 winter season.
  • INES had urged the German government to not only consider additional LNG terminals, but also further gas storage and pipeline connections to diversify supply.

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