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European Gas Prices May Be 20% Lower Than Forecast Next Summer
European natural gas prices next summer may be 20% lower than currently estimated thanks to a decline in demand from power plants and ample supplies in storage, according to consultant Wood Mackenzie Ltd. The region is heading into winter with stockpiles above the seasonal norm, a buffer against any short-term disruptions. There’s also been a drop in gas use for power, with renewables gaining market share, nuclear output rising and economic pressures weighing on industrial and household consumption. “The European gas sector looks set to see a fall in gas demand that will have a knock-on effect for prices next ... (full story)