Financial and business news from Bulgaria

Fitch with an important forecast for the price of gas in Europe in the years to come

Fitch predicts an average price of natural gas in Europe of $132.40 per 1,000 cubic m for the most liquid TTF hub, global agencies report, Monitor writes.
For 2020, the level will be around 88.30 dollars. For 2022, the average price of blue fuel is expected to reach 177 dollars per 1000 cubic, and the long-term prospect will rise to 194 dollars.

Today, the average price of TTF gas with a day-ahead delivery is at a level of about 4.60 euros per megawatt hour (towards 56 dollars per 1000 cubic of natural gas).

From Fitch in the long term valued markets, both pipeline and liquefied natural gas.

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According to the rating agency, at least in the next 10-20 years the role of natural gas in the global energy balance will grow.

The reason lies in the recent complete refusal of coal use and the increase in demand for electricity.

It will grow not only in Asia but also in Latin America and Africa, and surpluses of blue fuel will be taken over by the market in the next 5 years.