European Gas Price Rebound: Concerns About Norwegian Deliveries and LNG Competition

2023-06-15 14:15:36

After months of continuous decline, prices are experiencing a sharp rebound, once morest a backdrop of concerns regarding Norwegian deliveries and competition for LNG cargoes. At the risk of reliving the scenario of last summer’s crazy flight?

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Journalist in the Economy department

Par Bernard Padoan

Published on 06/15/2023 at 16:15
Reading time: 1 min

Esummer 2022. The war in Ukraine has been raging for six months, and Moscow has cut off a large part of the gas supply to Europe via pipelines. In dispersed order, European countries are trying by all means to fill their stocks before winter, by outbidding on shipments of liquefied natural gas from the United States or Qatar. The consequence of this frenzy of demand: the price of gas on the European market soared to an unprecedented height, to 340 euros/MWh at the end of August – once morest 75 euros at the start of June 2022.

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