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Tuesday, October 3, 2023

Reuters: Coal and gas lead in 2022 in rising prices in the fuel market

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Reuters writes that the last year was marked by a significant increase in coal and natural gas prices in the context of the global energy crisis.

According to Goldman Sachs, it was these types of fuels that showed the highest growth dynamics. Energy costs will continue to rise as limited supply is expected in 2023.

Experts explained that recently the gas market has been strongly affected by the decrease in supply from Russia, and sabotage of the Nord Stream and Nord Stream 2 pipelines has also been affected. As a result, European countries are buying record amounts of natural gas from other sources for heating in the winter.

Strong demand for LNG and dwindling pipeline gas supplies triggered an energy crisis and gas prices soared to record highs.

The International Energy Agency had previously predicted that by the end of 2022, the level of world coal demand would increase by 1.2% (up to 8,025 tons).

Source: Riafan

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