The World Bank stated that it is anticipated that the price of natural gas will increase four times by 2024 compared to the average of the preceding five years, causing serious consequences in the European Union gas market.
The World Bank said in a report issued this October: “The price of coal in Australia and natural gas in the United States will be expected to double over the past five years, and the price of natural gas in Europe may double four times.
Earlier, Ursula von der Line, President of the European Commission, stated that the Commission will collaborate with member nations of the European Union to develop a mechanism to address the problems with the EU gas market and “lower prices of prices.”
On November 24, the European Union’s Energy Ministers will meet in a special session to discuss new energy policies that are currently being discussed with the European Commission.
Source: Novosti.
The World Bank foresees significant effects on the gas market in the European Union.
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