MOSCOW, July 22. /TASS/. Prices at the TTF gas hub in Europe may turn out to be 16% above the last-year level, the International Energy Agency (IEA) says in its report on the gas market.

Prices may spike as much as 70% at the Henry Hub in the United States.

"Forward curves as of mid-July suggest that TTF prices could increase by 16% in 2025 and average just over $12.5/MBtu," the IEA said. "Higher storage injections through the summer, together with lower piped gas imports and continued competition for flexible LNG cargoes, are expected to support higher gas prices," the agency noted.

Spot gas prices in Europe gained 20% in the second half of this year to $12/MBtu but turned out to be 18% lower than in the first quarter of this year.