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The cost of gas in Europe during the trading on Thursday, September 30, continues to update the historical record and after breaking the psychological mark of $ 1100 per 1,000 cubic meters exceeded $ 1150, according to the data of the ICE exchange.
Earlier this week, the price of gas in Europe for the first time in history exceeded $ 1000 per 1,000 cubic meters.
Gas prices in Europe are growing throughout the year, having almost quadrupled over this period. Among the reasons for the latest rise in prices is Gazprom’s refusal to book additional capacities for gas transit through Ukraine ahead of the launch of Nord Stream 2. Gas reserves in underground storage facilities in Europe remain below last year after a cold winter.
“If you look at how Gazprom reacted to the price increase, it becomes clear that the company did not try to sell more gas in Europe, but, on the contrary, did so in order to push prices up even more,” partner Rusenergy told The Insider earlier Mikhail Krutikhin.
“The supplies along the route through Belarus and Poland were reduced, the capacities of Nord Stream 1 were put on preventive maintenance for some time, there were refusals to reserve transit capacities through Ukraine, there was a period of refusal to fill underground gas storage facilities, which Gazprom rents from Europe. All these actions took place during a period of high prices, when it was possible to take advantage of the situation and sell gas at a profit. Since this was not the case, there are suggestions that it was done on purpose as an act of gas war or market manipulation, ”the expert is sure.
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