BRUSSELS: The European Commission expects gas prices to fall as the global suppply of liquefied natural gas (LNG) increases, creating space for investments in renewable energy, the commission’s President Ursula von der Leyen said in a speech on Tuesday.

“During the energy crisis, many investments have been done. A large wave of new LNG export projects is coming to market. And we might soon be moving from a global shortfall to an abundance of LNG,” von der Leyen told European lawmakers.

“As a result, we expect gas prices to fall.”