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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Gazprom: Gas prices for Europe could reach $4,000 this winter

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Aug 2022 15:19
3 Min Read

Gas giant Gazprom said that it does not rule out the possibility of gas prices hitting $4,000 per 1,000 cubic meters in the upcoming winter as spot gas prices hit $2,450 on London's ICE exchange.

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  • Gazprom did not rule out $4000 per 1000 cubic meters gas prices for Europe
    Gazprom did not rule out $4000 per 1000 cubic meters gas prices for Europe (Reuters)

During the upcoming winter of 2022-2023, Gazprom, on Tuesday, stated that it does not rule out that gas prices across the European continent might reach up to $4,000 per 1,000 cubic meters.

In a statement, Gazprom said that "We would like to note, that on spot exchanges in Europe, gas prices have surpassed the figure of $2,500. According to conservative estimates, if the trend continues, prices will exceed $4,000 per 1,000 cubic meters in winter," Gazprom said.

For the first time since March 8, the spot price of gas in Europe on the ICE market in London earlier reached $2,450 per 1,000 cubic meters. This is taking place against a backdrop of rising spot gas prices in Asia, the closure of numerous Norwegian gas production and transportation facilities for planned maintenance through the end of August, as well as increasing temperatures, and a decrease in wind generation in Europe.

On March 7, 2022, the exchange rate for gas in Europe for the first time ever hit approximately $3,900 per 1,000 cubic meters.

According to Gazprom, over the first 7.5 months of 2022, gas shipments to nations outside the Commonwealth of Independent States fell by 36.2% to 78.5 billion cubic meters.

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On July 27, Kremlin press secretary Dmitry Peskov said it was wrong to link the level of Russian gas supplies to Europe with the removal of EU sanctions against Moscow but the restrictions affected Gazprom’s delivery volumes. 

Due to the suspension of many gas turbines, the Nord Stream gas pipeline has only utilized 20% of its capacity since July 27.

One of these, manufactured by Siemens Energy in Canada, was shipped to Montreal for maintenance. The manufacturer first hesitated to deliver the repaired equipment to Germany, since no such agreement has been signed and because of Ottawa's sanctions against Moscow.

Later, the Canadian Natural Resources Minister Jonathan Wilkinson said the Nord Stream 1 turbines sent to Canada for maintenance would be returned to Germany instead of Russia due to the anti-Moscow sanctions.

However, the situation prompted Russian gas giant Gazprom to reveal on July 27 that it had not a single document allowing German conglomerate Siemens to take a gas turbine engine for the Portovaya compressor station from Canada. As a result, just one turbine is still functional.

Read more: Economy minister slams Germany's economic model as 'dependent'

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  • Russian gas supplies
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Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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UKLFI’s latest faux pas, like "Israel’s" recent failed attempt at regime change in Iran, is unambiguously indicative of a flailing entity on the verge of extinction. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

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