MOSCOW, November 11. /TASS/. European natural gas futures prices have once again exceeded $1,000 per 1,000 cubic meters and continue to trade near that level, according to data from the London-based ICE exchange and TASS calculations.

As of 1:00 p.m. Moscow time, December futures at the Netherlands’ TTF hub were trading at $1,002.585 per 1,000 cubic meters. Gas prices surpassed the $1,000 mark at around noon Moscow time. The last time gas traded above that level was November 5.

Prices began declining on October 30 and continued to fall until November 9, after which they resumed rising. As TASS previously reported, on November 3, the price of December futures at the TTF hub fell to nearly $1,000 per 1,000 cubic meters for the first time since October 21, amid positive developments surrounding peace consultations between Iran and the United States.

According to TASS calculations, the average European gas price since the beginning of November stands at $1,021.9 per 1,000 cubic meters, up 1.7% from the same period last month and 2.8 times the level recorded a year earlier.

In October, the average European gas price rose 2.6-fold year on year to $1,000 per 1,000 cubic meters, its highest level since late 2022. At their October peak, spot prices at the TTF hub exceeded $1,200 per 1,000 cubic meters for the first time since December 2022.

Gazprom CEO Alexey Miller also noted that prices had risen above $1,200 per 1,000 cubic meters and predicted that European gas prices could reach $2,500 in the event of a cold winter. Russian President Vladimir Putin did not rule out the possibility of European gas prices rising to $1,500 per 1,000 cubic meters.