All news

Gas prices in Europe may break records in near future — Gazprom

On September 15, the cost of natural gas at an auction grew by $159, and several times broke a historical record, at its peak, the price reached $970 per 1,000 cubic meters

MOSCOW, September 17. /TASS/. The significant delay in gas injection into UGS facilities in Europe and the growing demand for gas have led to record-breaking prices for it in Europe, and those records may be beat in the near future, said Gazprom Board Chairman Alexei Miller on Friday at the 24th annual general meeting of the International Business Congress.

"The prices in Europe have already broken all possible records. And maybe even in the near future the previously reached records will be beat too," Miller said. Despite the record prices in Europe, according to Miller, LNG supplies go to the premium Asian market, which remains more attractive.

On September 15, the cost of natural gas at an auction grew by $159, and several times broke a historical record. At its peak, the price reached $970 per 1,000 cubic meters. However, by the close of trading, the price declined to about $ 800 per 1,000 cubic meters. At present, the gas price is at the level of $ 770 per 1,000 cubic meters. Experts who spoke with TASS admitted that the price could reach $1000 per cubic meters under certain conditions. The cost will depend on several factors, including on the gas market in Asia, the European weather and the launch of the Nord Stream 2.