Moscow, SANA- Deputy Chairman of the Russian Security Council Dmitry Medvedev expressed his belief that gas prices will jump significantly in Europe.
“To the heads of state and government of the European Union countries. In connection with the increase of gas prices to 3,500 euros per one thousand cubic meters, I’m forced to increase the price forecast to 5,000 euros by the end of 2022. With warm regards,” Medvedev was quoted by Russia Today as saying.
Medvedev’s remarks came in coincidence with the decline in supplies from Russia and the announcement by Gazprom of a temporary halt to the work of Nord Stream 1.
The settlement price of gas futures for delivery in September (as per the TTF) reached $3507.3 on the last trading day of the week – August 26, a record value for the entire operating period of gas complexes in Europe since 1996.
This indicator rose during the week by about $ 1,000, or nearly 40%, while on Friday gas prices reached within moments of $ 3,525.9 and took another step towards updating the historical maximum of $ 3,892.
Source: Syrian Arab News Agency (SANA)