After Gazprom’s statement, the price of gas soared to $3,000.
Russia’s Gazprom announced that it was suspending the operation of Nord Stream 1 for three days, from August 31 to September 2, allegedly due to repairs. As a result, Monday’s gas price on the European market exceeded the $3,000 per thousand cubic meters mark. The price of September TTF futures on the ICE Futures exchange reached $3,240 per thousand cubic meters. A week ago, Gazprom voiced expectations that gas prices will rise to $4,000 per thousand cubic meters in the winter quotations. The record gas price in Europe was recorded on March 7, when the price soared to $3,898 per thousand cubic meters.