Russian gas major Novatek expects low gas prices in Europe and Asia in the summer, but predicts their further stabilization, the company's CFO and deputy chairman Mark Gyetvay said on Thursday during a conference call
MOSCOW (Pakistan Point News / Sputnik - 30th April, 2020) Russian gas major Novatek expects low gas prices in Europe and Asia in the summer, but predicts their further stabilization, the company's CFO and deputy chairman Mark Gyetvay said on Thursday during a conference call.
The gas price at the TTF hub will remain low during the summer months, and then will probably stabilize, he said.
Based on the results of tenders in China and India, Novatek also expects the JKM index, which is reflecting spot LNG prices in Asia, to be low this summer, he said, noting that further stabilization in the Asian region is also expected.
Novatek believes that the era of high gas prices linked to oil has ended, Gyetvay said.
