29-09-2021, 09:12 AM
28 Sep, 2021 09:30
Natural gas prices in Europe hit record highs in Tuesday’s trading, exceeding US$1,000 per 1,000 cubic meters for the first time in history, data from the Intercontinental Exchange (ICE) shows.
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Russian experts had warned that gas prices could surge due to a number of factors, including demand in Asia, the weather in Europe and the coming winter season, as well as the timing of the launch of Russia’s Nord Stream 2 pipeline. Low gas-storage volumes across the continent and unusually high demand for the current season also add to the prospects of record highs on the European gas market.
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Sergey Komlev, the department head at Gazprom Export, said that pipeline gas supplies from Russia to Europe this year are at historic highs, with Gazprom increasing gas production by 18.4% year-on-year.
At the same time, the European gas market in the first half of 2021 faced an outflow of liquefied natural gas (LNG) to the Asia-Pacific and South American markets, with its share in imports dropping from 41.5% to 31%. In absolute terms, LNG supplies to Europe during this period decreased by 10.74 billion cubic meters (15.9%).
https://www.rt.com/business/536001-europ...Newsletter&utm_medium=Email&utm_campaign=Email
Natural gas prices in Europe hit record highs in Tuesday’s trading, exceeding US$1,000 per 1,000 cubic meters for the first time in history, data from the Intercontinental Exchange (ICE) shows.
......
Russian experts had warned that gas prices could surge due to a number of factors, including demand in Asia, the weather in Europe and the coming winter season, as well as the timing of the launch of Russia’s Nord Stream 2 pipeline. Low gas-storage volumes across the continent and unusually high demand for the current season also add to the prospects of record highs on the European gas market.
......
Sergey Komlev, the department head at Gazprom Export, said that pipeline gas supplies from Russia to Europe this year are at historic highs, with Gazprom increasing gas production by 18.4% year-on-year.
At the same time, the European gas market in the first half of 2021 faced an outflow of liquefied natural gas (LNG) to the Asia-Pacific and South American markets, with its share in imports dropping from 41.5% to 31%. In absolute terms, LNG supplies to Europe during this period decreased by 10.74 billion cubic meters (15.9%).
https://www.rt.com/business/536001-europ...Newsletter&utm_medium=Email&utm_campaign=Email