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Gas traders therefore recommend that customers fix the price. "The good news is that most of our household customers will not be affected by the current price fluctuation at all, because their gas price is fixed for up to three years. However, the current situation may of course be reflected in the price lists for new customers and customers without a fix. However, this will depend on the further development of the situation in the Middle East and how international events will affect the situation on the European wholesale gas market in the coming days and weeks," says Grochál.
"However, the availability of LNG for European needs will be a question of price, i.e. a subject of competition with prices in the Pacific. From the perspective of safely ensuring gas needs, there may be wrinkles in those European countries where they already have only low reserves in underground storage facilities - in the Netherlands, Germany and to some extent also in France and Poland," says Slabý. He adds that, given the approaching spring and warming in Central and Western Europe, Europe should be able to handle this situation.
“We expect significant price volatility in the coming days as market participants assess the impact of the loss of supply on their own portfolios. The buyers who will be most aggressive in short-term spot purchases are likely to be in markets in the Asia-Pacific region,” said Ross Wyeno, associate director and head of short-term LNG analysis at S&P Global Energy.
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