Low gas prices unlikely to rebound soon – Birol

European gas and coal prices are unlikely to rise significantly in the foreseeable future as there are few bullish signals to reverse the supply-demand imbalance, according to Fatih Birol, executive director of the International Energy Agency (IEA).

"[Last year] was the year of many changes in the energy sector. In addition to the landmark [Paris] climate deal we have seen historical lows for all fossil fuels: oil, gas and coal," Birol told journalists at a joint press briefing with EU Climate and Energy Commissioner Miguel Arias Cañete at the European Commission’s headquarters in Brussels on Thursday.