00:00 What are the reasons behind the decrease in gas prices in 2024 and to what extent the
00:08 export surplus can continue in the coming years?
00:13 At first, we point out that, according to Morgan Stanley, it is expected that the export surplus
00:19 in the gas market will reach its highest levels in decades, specifically in the current year
00:24 and in the coming years.
00:27 One of the most important reasons behind this is that this winter was warmer than expected,
00:33 which reduced the demand for gas.
00:36 According to Morgan Stanley, the gas market volume is about 400 million tons annually.
00:43 If we look at the production of gas, 150 million tons of natural gas per year is the production
00:49 limit at the moment.
00:53 This indicates that a large amount of supply can continue for the coming years.
00:59 If we look at the prices of natural gas, the temporary contracts for natural gas have
01:04 dropped by 28% since the beginning of the current year, and even on a monthly basis.
01:09 We remind you that the immediate prices of natural gas have reached their lowest levels
01:15 in February at about $1.72 per million British pounds.
01:23 In this context, one of the most important reasons for the decrease in demand for gas
01:29 is the decrease in warming due to the winter solstice, which was warmer than expected.
01:36 We remind you that the United States is one of the largest consumers of natural gas,
01:42 and this winter it was the warmest ever.
01:47 Therefore, today, the president of the natural gas markets in Asia, Assan P Global,
01:53 announced to CNBC that gas prices are heading towards a decrease due to the moderate winter
02:00 conditions experienced by the United States, Europe and North Asia.
02:05 We remind you today that India and the countries in the south-east of Asia are the countries
02:10 that are benefiting from the decrease in gas prices today because they are the most countries
02:15 importing natural gas.
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