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NATGAS: ENI Expects EU Gas Price Drop by Year End: Montel

NATGAS
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European gas prices are set to remain volatile until the end of the year amid limited supply, but fluctuating demand may lead to lower prices, ENI’s CEO Claudio Descalzi said cited by Montel.

  • “In Italy and Europe, we don’t have significant domestic production, making us highly dependent on external supply,” Descalzi said.
  • He predicted that European gas prices could fall to around $10/MMBtu (~EUR30/MWh) by year-end amid lower industrial demand in Europe and high gas stocks.
  • This is also despite higher household consumption over winter.
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European gas prices are set to remain volatile until the end of the year amid limited supply, but fluctuating demand may lead to lower prices, ENI’s CEO Claudio Descalzi said cited by Montel.

  • “In Italy and Europe, we don’t have significant domestic production, making us highly dependent on external supply,” Descalzi said.
  • He predicted that European gas prices could fall to around $10/MMBtu (~EUR30/MWh) by year-end amid lower industrial demand in Europe and high gas stocks.
  • This is also despite higher household consumption over winter.