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    Reuters: Europe gas prices must rise to avoid winter squeeze

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Summary

Goldman Sachs says European natural gas prices need to rise by $2 per million British thermal units (mmBtu) in order to attract cargoes of liquefied natural gas (LNG) and avoid a winter supply squeeze

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Reuters: Europe gas prices must rise to avoid winter squeeze

European natural gas prices need to rise by $2 per million British thermal units (mmBtu) in order to attract cargoes of liquefied natural gas (LNG) and avoid a winter supply squeeze, Goldman Sachs said on Thursday.

The bank said the rise was needed for European gas prices to become competitive with prices in Asia, where demand is booming.

European spot natural gas prices have remained range bound between $8.20 per mmBtu and $9.20 per mmBtu for the past three months, compared with around $13 per mmBtu in Asia.   MORE

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