American JPMorgan Bank Forecasts Gas Prices to Drop
Azerbaijan, Baku, 19 November/ Trend , corr. A.Badalova /The New York based JPMorgan third largest bank in world forecasted the gas prices in 2009 will comprise $7.4 per million of British thermal unit (BTU) against $7.95 per 1mln BTU forecasted by bank.
JPMorgan reported to Trend on 19 November that the maximum gas price would be observed in the fourth quarter of 2009 at $8.4 per million of BTU, as well as the minimum price in the second quarter - $6.55 per million of BTU. The gas prices in the first and third quarters will make up $7.35 per million of BTU.
In 2008, the gas price, according to forecasts, will total $ 9.15 per million of BTU against $9.08 that previously forecasted by bank. The gas price in the fourth quarter of 2008 will make up $ 7.45 per million of BTU.
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