Post: Gazprom: European gas prices could rise by 60% this winter

Russian state gas giant Gazprom said on Tuesday that gas prices in Europe could climb 60 percent to more than $4,000 per 1,000 cubic meters this winter, as the company’s production and exports continue to fall amid western sanctions. Gas flows from Russia, Europe’s biggest supplier, have been at low levels this year after the route was blocked when Moscow sent troops to Ukraine in February and after sanctions sparked a dispute over equipment for the pipeline. prices. They got up. “The price of European gas for immediate sale has reached 2,500 dollars (per thousand cubic meters). According to a conservative estimate, if this trend continues, prices this winter will exceed $4,000 per thousand cubic meters,” Gazprom said. Ukraine has closed one of Gazprom’s export routes to Europe, and the company has cut supplies to Germany to just 20% of the capacity of its Nord Stream 1 pipeline amid an equipment dispute. Overall, Gazprom’s gas exports dropped 36.2 percent to 78.5 billion cubic meters from Jan. compared to the previous year.

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Source: Al Ittihad

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