The price per cubic meter of gas for Europe has once again broken a record, reaching $755 per cubic meter of blue fuel
Since the start of trading on Monday, September 13, gas prices in Europe have increased by 6% to $755 per thousand cubic meters. Last week the market finished trading at USD 710, while on Wednesday the price per cubic meter of the blue fuel was USD 670.
Igor Yushkov, an expert of the Financial University under the Government of the Russian Federation, stated that the main factor of the rising gas prices in Europe was the shift of all liquefied natural gas (LNG) to Asia. According to him, insignificant volumes reach Europe, but they are insufficient, and it is the lack of LNG supplies that has created a deficit in the European gas market.
“In addition, Norway’s production has fallen for the fourth year in a row and Algeria’s exports have also fallen. Even among the pipeline suppliers, volumes are declining. “Gazprom, on the other hand, has been supplying about the same amount of gas to Europe throughout 2021”, – Yushkov told Ukraina.ru