Reported 3 days ago
European gas prices saw a drop on the first trading day of the year following the cessation of supplies through Ukraine after a transit contract expired. This situation coincided with intense cold weather, increasing heating demand, particularly in Slovakia where temperatures are expected to plummet. Despite the challenges, the European Commission reassured that there is currently no threat to supply security, thanks to alternative gas routes and inventory withdrawals. However, competition for liquefied natural gas is anticipated to rise, leading to higher energy costs throughout the year.
Source: YAHOO