TOKYO, February 13. /TASS/. Natural gas prices in EU countries this winter turned out to be higher than in East Asia, although the situation is usually the opposite. The situation is due to the prolonged cold weather in the EU zone, reduced supplies from Russia, and stockpiles in storage facilities, leading Japanese business newspaper Nikkei wrote.
The price is currently set at $16 per 1 mln BTU (British Thermal Unit) on the East Asian spot market. In EU countries, the same volume costs at least a dollar more.
The newspaper noted that natural gas prices in the EU have now reached their highest level since 2023. Since the end of 2024, they have already increased by about 20%. The situation is complicated by the lack of strong winds and sunny days in many areas, making it difficult to use renewable energy sources.
High prices for natural gas in EU countries will inevitably lead to their increase in East Asia, as LNG resale from the region to the EU zone has recently become more active in order to replenish dwindling reserves, Nikkei noted.