American Bank Experts Forecast Insignificant Rise in Gas Prices in 2009

Oil&Gas Materials 29 February 2008 19:52 (UTC +04:00)

Azerbaijan, Baku, 29 February / corr. Trend A. Badalova/ According to JP Morgan bank of United States of America, which is the third largest bank in the country, in 2009, the average world price for gas will total to $7.65/mmBTU against $7.50/mmBTU in 2008.

On 29 Feb, JP Morgan said to Trend that there is rise in the forecast of the bank for the first quarter of 2008 from $6.65/mmBTU up to $7.15/mmBTU because of the possible drop in the import of the liquefied gas in US. JP Morgan says that the rise in the world prices, in 2009 by 1%, is due to the rising demand for the liquefied gas.

The production of liquefied gas has increased by 6.6% for the last 15 years. For instance, according to Turkish Botas, the import of liquefied gas of Turkey from Nigeria and Algeria will exceed 25bln cu. meters till 2020.

The correspondent can be contacted at : [email protected]