MOSCOW, October 20. /TASS/. The price of gas in Europe has already exceeded the $1,200 per 1,000 cubic meters mark, and it could even climb to $2,500 if winter temperatures are low, Gazprom chief executive Alexey Miller said.
"Gas prices in Europe surpassed the $1,200 per 1,000 cubic meters mark, which Western experts had forecast for the peak of autumn-winter consumption, as early as October. Given the succession of record lows in gas injection into underground gas storage facilities recorded by European countries, for instance, in Germany, the largest gas consumer, where storage sites are only 61.6% full, it is reasonable to expect that gas prices in Europe could peak at $2,500 per 1,000 cubic meters during a cold winter," he was quoted as saying by the holding’s press service.
TASS reported earlier that the spot price of gas at the TTF hub in Europe had exceeded $1,180 per 1,000 cubic meters for the first time since December 2022. Prices had also surpassed the 100 euro per MWh mark for the first time in four years. Gas prices in Europe have been climbing amid historically low storage levels ahead of the upcoming winter and the ongoing conflict in the Middle East.
Russian President Vladimir Putin has not ruled out the possibility that gas prices in Europe could rise to $1,500 per 1,000 cubic meters.
