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Natural Gas Prices in Europe Reach New Record High Russia’s Gazprom Warns of 60% Price Increase in Gas in Coming Months

 
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08/16/2022 11:39 AM

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Natural Gas Prices in Europe Reach New Record High Russia’s Gazprom Warns of 60% Price Increase in Gas in Coming Months
Russian state gas company Gazprom said today that European gas prices could spike by 60% to more than US$4,000 per 1,000 cubic metres this winter, as the company’s own export and production continue to fall amid western sanctions.

Gas flows from Russia, Europe’s top supplier, are running at reduced levels this year, after one route was shut when Moscow sent troops into Ukraine in February and after sanctions triggered a dispute about the Nord Stream 1 pipeline’s equipment.


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