One feature of natural gas demand is seasonality so typically we would expect prices to rise in winter season due to an increase in demand for heating and electricity. This year, Europe entered the winter season with already higher-than-usual gas prices. For instance, a surge in gas prices was already seen in the summer season in the continent. The surge in prices has been the result of several factors; some economics and some political, including the rising tensions between Europe and Russia, Europe’s biggest gas provider.
Dr Nakhle concludes that the effect on the European consumer differs by location. In the UK, where the gas market is a free market, the rise in prices directly affects the consumer.
Watch the full discussion (in Arabic):
“European gas crunch: Calm before the storm?“, Dr Carole Nakhle, Dec 2021
“European gas crisis – the new normal“, Dr Carole Nakhle, Nov 2021
“An Energy Crisis Like No Other“, Lord Howell, Oct 2021
“Major risks for energy markets in 2022“, Dr Carole Nakhke, Dec 2021
“Germany suspends certification of Nord Stream II“, Christof Rühl, Nov 2021
“Natural gas crisis – why prices are soaring“, Dr Carole Nakhle, Sep 2021