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Goldman Sachs Warns of Rising European Gas Prices
Goldman Sachs Bank expects natural gas prices in Europe to surpass €100 (117 USD) per megawatt/hour by December, to ensure adequate stock renewal for the winter season. The report indicates that the recent rise in Dutch futures contract prices will not be sufficient to attract liquefied natural gas (LNG) supplies from Asia if Middle Eastern supply restrictions continue. Meanwhile, gas storage levels declined over the summer due to disruptions in shipment routes and intense competition between European and Asian markets.
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