Portuguese / Spanish / English

Gazprom warns 60% gas price hike in Europe this winter

The logo of Russia's energy giant Gazprom in Moscow on 16 April 2021 [KIRILL KUDRYAVTSEV/AFP/Getty Images]
The logo of Russia's energy giant Gazprom in Moscow on 16 April 2021 [KIRILL KUDRYAVTSEV/AFP/Getty Images]

Russian state gas company Gazprom yesterday warned that European gas prices could rise by 60 per cent to more than $4,000 per 1,000 cubic metres this winter, Reuters reported.

According to the news site, the company's own export and production continues to fall amid Western sanctions.

Western media had reported that Russian gas flows to Europe are at a minimum level this year due to the western sanctions imposed on Moscow as a result of its war on Ukraine.

Gas prices hit $2,500 per 1,000 cubic metres, Reuters reported, expecting that prices will rise to $4,000 per 1,000 cubic metres this winter.

On 24 February, Russia launched a wide-scale offensive on Ukraine that prompted Western sanctions to pressure Moscow to stop its war.

READ: 2 more ships carrying over 63,000 tonnes of grain leave Ukraine

Categories
Europe & RussiaNewsRussiaUkraine
Show Comments
Writing Palestine - Celebrating the tenth year of the Palestine Book Awards - Buy your copy of the book now
Show Comments