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The EU has been warned of the possibility of negative gas prices. Geoenergy Info
Prices for natural gas in Europe may become negative, that is, sellers will begin to pay extra to buyers. According to some market participants, this may happen in the very near future. Top managers of the largest commodity market operators admitted that prices for short-term gas contracts in Europe could turn negative for a while this summer. Gas prices could go below zero in the summer if sluggish demand doesn’t equal a growing gas supply glut. Such an event, where gas producers actually pay consumers to take gas away from them, is becoming increasingly likely as prices approach pre-crisis levels, the agency said. This week, gas prices on the stock exchange in Europe for the first time in two years fell below $300 per thousand cubic meters.
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