The European Community of Experts has announced that gas prices in the European Union will remain above 100 euros for the next three years, which will lead to a transfer of money from Europe to the producing countries.
According to the Italian newspaper "La Repubblica", it is possible that the European industry will also undergo a transformation process, which, under conditions of high cost of energy resources, must maintain its competitiveness in the world market.

The newspaper added that despite the high prices associated with speculation, the price of gas is determined through market mechanisms, especially the ratio of supply and demand.

"Gas futures prices will rise for a while because European countries will have to pay a premium to attract LNG to replace Russian gas," the newspaper quoted European Central Bank President Christine Lagarde as saying.

According to her, Europeans tend not to engage in long-term engagements, and futures prices are already programmed for seasonal growth in demand.

Despite lower prices due to favorable weather in Europe, and the postponement of the heating season after a "race" sparked by the urgent need to fill storage facilities, the cost of gas remains higher than it was before 2021, with gas in Italy used to produce more than 40% of electricity.
Source: The Seventh Day website