Azerbaijan, Baku, 16 October / Trend corr. A.Badalova / The New York based JPMorgan third largest bank in world forecasted decline in gas prices to $7.94mln (btu) from $9.04mln btu in 2009.
In accordance with new forecasts, the gas prices will touch $8.55mln btu in the first quarter (Q1), $7.25mln btu - Q2, $7.55mln btu - Q3 and $8.4mln btu - Q4 in 2009.
The gas prices in the fourth quarter in 2008 will comprise $8.35mln btu, which is less by $0.9mln btu compared to bank's previous forecasts.
The correspondent can be contacted at: [email protected]