After Gazprom’s statement, the price of gas soared to $3,000.
Tuesday, August 23, 2022

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.

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