Eni trading chief says gas prices unlikely to revisit 2022 highs
UNG•Eni trading chief Stefano Pujatti said natural gas prices are unlikely to return to their 2022 peaks, despite a recent surge that pushed the Dutch TTF contract to €100 per megawatt hour.
1. Prices below 2022 peak
Stefano Pujatti, Eni’s director of global portfolio and trading, said it was difficult to see gas prices returning to 2022 levels. The Dutch TTF contract reached €100 per megawatt hour on Wednesday, its highest level since December 2022, but remained below the 2022 peak above €300 per MWh.
2. Market conditions differ
Pujatti said the current crisis affects global gas markets, with liquefied natural gas cargoes able to be redirected around the world. He also cited expectations that conditions in the Middle East will eventually stabilise and said Europe’s increased regasification capacity should help limit further price rises at the TTF hub.
