Soaring natural gas prices may intensify inflationary pressures in Europe

Recently, the price of natural gas in the international market has continued to rise, leading to an increase in the cost of gas and electricity in many European countries

According to the communiqué, the European LNG market is very tight.

The Office of the Natural Gas and Electricity Market, the UK's energy market regulator, issued an announcement in early August that it would raise the energy price ceiling from October 1, involving about 15 million users

In Germany, natural gas is an important pillar of energy supply

Many analysts continue to be bullish on natural gas prices this year, believing that the imbalance between global natural gas supply and demand will be difficult to alleviate in the short term

Nasser Mawari, a professor of economics at Sultan Qaboos University in Oman, believes that the price of natural gas in the international market is mainly supported by four factors: First, the new crown epidemic has led to insufficient global natural gas production capacity and reduced transportation capacity; second, the relationship between the United States and Iran and the problems in Afghanistan This has brought about regional instability and boosted the price of natural gas; third, global climate anomalies have frequently occurred, and electricity consumption has increased significantly, causing many countries to hoard natural gas reserves; fourth, global environmental protection awareness has increased, and natural gas consumption as the main clean energy source continues Increase

Saudi energy expert Namath Abu Alsuf pointed out that the sharp increase in European natural gas prices is also related to the many uncertainties faced by the supply side, especially the gas supply in Russia

Data released by Eurostat at the end of July showed that inflation in the Eurozone in July was calculated at an annual rate of 2.

　　Data released by the Federal Statistical Office of Germany on August 11 showed that Germany’s July inflation rate was 3.

　　Analysts predict that due to the low base of core inflation in the previous year and the continuous increase in European climate policies, European energy prices will continue to face upward pressure, and the euro zone inflation rate will rise further