European and U.S. natural-gas prices are forecasted to halve: WB

European and U.S. natural-gas prices are forecasted to halve: WB
# 28 April 2023 13:49 (UTC +04:00)

The World Bank (WB) revised down its forecasts for the average price of natural gas in Europe and the United States for 2023-2024, APA-Economics reports citing WB.

According to the report, the price of gas in Europe in 2023 will be 19 USD per 1 mln. BTU (British thermal unit, equal to 26.8 cubic meters), which is 13 points less than the previous forecast. In 2024, the price is likely to decrease and it will be at the level of $17 (11 points less than the previous forecast).

The figure is 52.9% more compared to the forecast for the current year.

As for US, the average price of natural gas in the United States will be $2.7 per 1 mln. BTU in 2023, which is 3.5 points less than the previous forecast. In 2024, the price in the U.S. is likely to increase and it will be at the level of USD 3.7 (2.3 points less than the previous forecast).

The figure is 57,6% less compared to the forecast for the current year.

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