Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: For the first time, Prime Minister Netanyahu is signaling that he wants to end the war on Gaza
Israeli Channel 12, citing an American source: We want to have entered a path toward captive release and a ceasefire before Netanyahu arrives in Washington
Lebanese Ministry of Health: One martyr and two injured in the Israeli airstrike that targeted a motorcycle in the town of Mahrouna
Al Mayadeen correspondent to Southern Lebanon: An Israeli drone strike targeted a vehicle between the towns of Jwayya and Mahrouna.
Al Mayadeen's correspondent in South Lebanon: One martyred in the Israeli drone strike on a car in the town of Kawnin
Al Mayadeen's correspondent in South Lebanon: Israeli drone targets a car in the town of Kawnin
Naeini: If our national interests are attacked again, our response this time will be stronger and more destructive
Naeini: The war has proven that the settlers are defenseless against Iranian missile and drone forces
Naeini: Trump lacks an understanding of the true strength of the Iranian people and is so deluded as to believe he can change the reality of Iran's victory
Naeini: The defeat led to Trump's confusion and loss of balance, which was reflected in his ill-considered statements

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

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Aug 2022 16:19
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.

  • x
  • 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.

Related News

Slovakia threatens to block new EU sanctions over Russian energy

Southern EU unhappy with France-UK migrant swap talks

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'

  • Europe
  • Russia
  • Russian gas supplies
  • Sanctions on Russia
  • Gas prices
  • Russian Gas
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?

Most Read

Iranian President Masoud Pezeshkian attends a protest following the US attacks on nuclear sites in Iran, in Tehran, Iran, Sunday, June 22, 2025. (AP)

Iran declares victory as ceasefire forces Israeli retreat

  • Politics
  • 24 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Iran launches strikes on Israeli targets, despite alleged ceasefire

Iran victorious as ceasefire with 'Israel' takes effect

  • Politics
  • 24 Jun 2025
Iranian worshippers carry their country's flags in a protest to condemn Israeli attacks on multiple cities across Iran, after the Friday prayers ceremony in Tehran, Iran, Friday, June 20, 2025. (AP)

Iran warns of NPT withdrawal, Strait of Hormuz closure after US attack

  • Politics
  • 22 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli occupation soldiers search for settlers amid the rubble of buildings destroyed by an Iranian missile strike in Bat Yam, central occupied Palestine, on Sunday, June 15, 2025 (AP)
Politics

Iran missile strike flattens Bat Yam, displaces 2,000 settlers

Palestinian fighters from the Islamic Jihad militant group riding on a truck with weaponry on display take part in an anti-Israel parade marking the 36th anniversary of the movement's founding, in Gaza City, Wednesday, Oct. 4, 2023 (AP)
Politics

Palestinian Resistance attacks Israeli forces in Khan Younis, Jabalia

Iranian Foreign Minister Abbas Araghchi stands waiting to meet Russian President Vladimir Putin for the talks at the Kremlin in Moscow, Russia, Monday, June 23, 2025 (AP)
Politics

Iran suspends IAEA cooperation, Araghchi blames Grossi for attacks

The commander of the Quds Force's Palestine Unit, Brigadier General Mohammad Said Izadi (Illustrated by Mahdi Rtail for Al Mayadeen English)
Politics

Who was Mohammad Said Izadi, head of the Quds Force's Palestine Unit?

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS