WorldMoney & Business

World-wide energy crisis puts pressure on gas

Global gas prices are expected to remain high driven by greater demand from the post-pandemic recovery, low storage capacity, and tensions in Ukraine.

This comes on the back of several price rises that have seen global wholesale gas prices jump fourfold over the last 12 months.

Gas prices are also being driven by fewer liquefied natural gas tanker deliveries to Europe as a result of increased demand from Asia.

In Europe, a combination of a cold winter and supply shortfalls from Russia has pushed up prices. These pressures have increased as a result of fears surrounding the crisis in Ukraine between Russia and the West, where the threat of sanctions against Moscow could lead to cuts in Russian gas exports.

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Arab News
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