“Fuel and Energy Complex Economy Center” TsSR Deputy Director Sergey Kolobanov He talked about the reasons for the decrease in gas prices in Europe. The RIA Novosti news agency writes about it.
Kolobanov said that the sharp increase in gas prices last year was due to the expectation of a deficit in the winter of 2022/2023. Now there is confidence in the supply in the European market, so prices continue to fall. In addition, a positive situation was created in the EU with economic measures to reduce gas consumption: warm winter and spring; large amounts of energy production by windmills; LNG demand below planned values in Asia; A reduction in supplies from Russia reduces the risks of a sudden interruption of supply.
The expert also acknowledged that the cost of gas could fall further, although various factors may interfere with this.
It was previously reported that the UnionPay payment system has surpassed its rival Visa in terms of global transaction volume in the debit card market. Experts believe that Visa’s departure from Russia played an important role in increasing UnionPay’s market share.
Source: Riafan
I am Annabelle Sampson and I work for The News Dept as an author for their news department. My main focus is on economy news, but I also cover other topics such as business, finance, and current affairs. My writing has been featured in prominent publications such as The Wall Street Journal, Forbes Magazine, and the Financial Times.
