EC Head Expects EU LNG Prices To Fall

Ursula von der Leyen, head of the European Commission (EC), stated that the EU anticipates a surge of new LNG shipments, which should result in cheaper pricing for the energy supply.

« According to received information, a significant influx of additional LNG shipments is expected to hit the market starting next year. This is a positive development. It suggests a 50% rise in the available energy, » she stated at a press conference held in Brussels on Thursday following an extraordinary summit of the European Union. « We are transitioning from a gas shortage to the opposite situation. »

EU competitiveness was the summit’s principal concern.

Von der Leyen stated that « we can expect a superabundance of gas on the market. »

« And given the importance of LNG in the European Union’s energy mix, this will lead to significantly lower gas prices and give us the necessary time to create a cleaner economy on our continent with renewable energy at lower prices, » the head of the EU stated.

source: ec.europa.eu

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