Business & Economy

Despite the extension of the “Northern Stream” line, gas prices are rising in Europe

Gas prices in the European market set a new record, exceeding $750 per thousand cubic meters.
The cost of gas futures contracts for October was $751.2 per thousand cubic metres.
The price of gas in Europe set a record in the trading session last Friday, when it reached 710 dollars per thousand cubic meters.
Despite Russia’s announcement of the end of the extension of the Northern Stream pipeline to transport gas to Germany through pipelines in the Baltic Sea, the low level of reserves of Northeastern European reservoirs affects the price of gas, as European storage facilities now contain between 10 to 15 billion cubic meters of gas. , which is too low for a comfortable winter season.

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