As natural gas prices bounce back after a heavy slump during past years, experts have explained short and long-term mechanisms behind future price increases.
"We have to differentiate between long and short-term prices, but it's obvious that both will rise in the future as a result of the current situation and due to gas contracts being priced in accordance with oil," said Mert Bilgin, an energy expert and associate professor at Bahçeşehir University.
"In the short term, the Libyan crisis is affecting spot prices [immediate selling price], while long-term gas contracts signed in upcoming months or years will be based on previous oil prices, which are currently over $100 per barrel," he told the Hürriyet Daily News & Economic Review.
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