Goldman Sachs Sees European Gas Prices Tripling, Gives Price Forecast in H2 2023

Published: May 17, 2023 11:13
Goldman Sachs predicts that natural gas prices in Europe will nearly triple from current prices this winter.

Goldman Sachs predicts that natural gas prices in Europe will nearly triple from current prices this winter.

Goldman Sachs predicts that in the second half of 2023, European gas prices may exceed 100 euros per megawatt-hour, equivalent to nearly three times the current price of 36 euros.

More popular news:

'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices

Copper Shortage Is Irreparable Even after Biggest Mergers and Acquisitions, Here’s Why

Rio Tinto Warns of Risks for Paying High Premiums for Lithium Mines after Plunging Lithium Prices Triggered Acquisition Rush

BofA Sharply Lowers Forecast for Oil Price, Global Oil Consumption in 2023

Takeaways of Warren Buffett and Berkshire Hathaway’s 2023 Annual Meeting

UBS Raises China GDP Growth Forecast, Sees Earnings from China Stock Market Soaring, RMB Appreciating

Global Aluminium Inventory to Plunge Further amid Supply Headwinds, LME Aluminium Prices to React Fast

High Lithium Ore Prices in Australia will Drive Lithium Prices Rebound, Reasons Prevent Output to Grow

Sharp Output Cuts Led to Lithium Ore Shortages, High Import Prices Drove Lithium Salt Producers to Shut Down

US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters

Russia is Accelerating Technology to Become Top Liquefied Natural Gas Supplier by Tripling Exports By 2030

No Other Country can Replace China's Manufacturing Industry Including India

Global Manufacturing PMI in April Points to Greater Downward Pressure on Global Economy

SMM Daily Comments (May 5): LME Base Metals Rose across the Board, SHFE Nickel Plunged

SMM Daily Comments (May 9): Most LME Base Metals Closed Lower, SHFE Nickel Prices Plunge, Ferrous Metals Mostly Rose

A Bull Gold Market Has Just Begun 


Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
AI Computing Power Demand Boom Fuels Continuous Climb in Copper Foil Operations; Copper Cable High-Speed Connectors Strengthen, Taichenguang Leads Gains [SMM Express]
9 hours ago
AI Computing Power Demand Boom Fuels Continuous Climb in Copper Foil Operations; Copper Cable High-Speed Connectors Strengthen, Taichenguang Leads Gains [SMM Express]
Read More
AI Computing Power Demand Boom Fuels Continuous Climb in Copper Foil Operations; Copper Cable High-Speed Connectors Strengthen, Taichenguang Leads Gains [SMM Express]
AI Computing Power Demand Boom Fuels Continuous Climb in Copper Foil Operations; Copper Cable High-Speed Connectors Strengthen, Taichenguang Leads Gains [SMM Express]
9 hours ago
Tertiary Minerals Completes Phase 4 Drilling at Zambia’s Mushima North Copper Project
10 hours ago
Tertiary Minerals Completes Phase 4 Drilling at Zambia’s Mushima North Copper Project
Read More
Tertiary Minerals Completes Phase 4 Drilling at Zambia’s Mushima North Copper Project
Tertiary Minerals Completes Phase 4 Drilling at Zambia’s Mushima North Copper Project
Tertiary Minerals Plc has completed its Phase 4 drilling programme at Target A1 within the Mushima North Project in Zambia, with early portable X-Ray Fluorescence (pXRF) results identifying further copper mineralisation and supporting previously identified higher-grade zones.​ The Phase 4 programme comprised 3,639 m of drilling across 39 holes. Early results included an intersection of 15 m grading 0.53% copper from 100 m depth, including 7 m at 0.77% copper. Additional intersections included 4 m at 0.68% copper and 8 m at 0.62% copper, while broader infill intersections returned 65 m at 0.23% copperand 83 m at 0.16% copper.​ Mushima North is a polymetallic silver-copper-zinc prospect located within Zambia’s prospective Iron-Oxide-Copper-Gold region, approximately 28 km east of the historic Kalengwa copper-silver mine. The latest drilling supports the previously identified near-surface Exploration Target of 15–30 million tonnes grading 40–60 g/t silver equivalent, while also providing further indications of higher-grade copper and silver mineralisation within the target area.​ Samples from the drilling programme have been submitted for independent laboratory testing, with certified results expected to be released as they become available. Remaining pXRF results from the final nine holes are also expected, covering additional infill drilling at Target A1 and exploration of mineralisation west of Target A1 and at Target A2.​ With Phase 4 drilling now complete, the project is moving into its next stage of technical evaluation. Initial metallurgical testwork is expected to commence shortly, followed by data compilation and resource modelling. Tertiary Minerals is targeting the delivery of a JORC-compliant Mineral Resource Estimate for Mushima North before the end of 2026, which would provide a clearer assessment of the scale and grade distribution of the mineralised system following the latest drilling campaign.
10 hours ago
Copper Mineralisation Extends Beyond Current Resource at Zambia’s Mumbezhi Project
10 hours ago
Copper Mineralisation Extends Beyond Current Resource at Zambia’s Mumbezhi Project
Read More
Copper Mineralisation Extends Beyond Current Resource at Zambia’s Mumbezhi Project
Copper Mineralisation Extends Beyond Current Resource at Zambia’s Mumbezhi Project
According to foreign media reports, step-out drilling at the Nyungu Central deposit within Zambia’s Mumbezhi Copper Project has returned further copper intersections, extending a newly identified mineralised zone southeast beyond the boundaries of the current Mineral Resource Estimate (MRE).​ Recent drilling returned 65.8 m grading 0.42% copper from 226 m, including higher-grade intervals of 17.0 m at 0.58% copper and 13.2 m at 0.82% copper. A separate intersection returned 29.6 m grading 0.34% copper from 237 m, including 5.2 m at 0.80% copper. The results extend the known copper system outside the current resource estimate and provide additional targets for continued exploration.​ A total of 16 Phase 3 diamond drill holes covering 4,723 m have so far been completed at the southern end of Nyungu Central, while priority assay results remain pending for seven holes. In addition, a 6,200 m infill diamond drilling programme commenced at Nyungu Central in late July, supported by an additional drill rig now on site.​ Exploration is also continuing across the wider Mumbezhi Project, with four diamond drill rigs currently operating. Three are focused on Nyungu Central, while another is drilling at the regional Sharamba prospect, where exploration is targeting shallow copper mineralisation associated with a strong airborne electromagnetic anomaly. Visual copper mineralisation has been observed in five holes drilled along approximately 700 m of strike on the western side of the anomaly.​ The latest intersections further extend the known copper mineralisation beyond the existing Nyungu Central resource boundaries, while several priority assay results remain outstanding. Continued step-out and infill drilling will provide further indications of the scale and continuity of the mineralised system and its potential to support future resource expansion at Mumbezhi.
10 hours ago
Goldman Sachs Sees European Gas Prices Tripling, Gives Price Forecast in H2 2023 - Shanghai Metals Market (SMM)