
Gas prices in Europe have reached levels typical of the December 2022 energy crisis, exceeding $1,000 per 1,000 cubic meters at major hubs with day-ahead delivery, Gazprom said.
AI-generated summary
Gas prices in Europe previously reached critical levels in December 2022 amid declining supplies from Russia and rising demand.
The price of gas in Europe has reached levels typical of the energy crisis of December 2022. At the main hubs, prices for “day ahead” delivery exceeded 1 thousand dollars per 1 thousand cubic meters. MOSCOW, September 10 - RIA Novosti. The price of gas in Europe has reached levels characteristic of the energy crisis of December 2022, Gazprom reported.
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Gas prices in Europe will remain high in the coming weeks
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Gazprom states that Europe's underground gas storage facilities are only 67.3% full as of September 8, 12.8 billion cubic meters below last year's level, with gas prices reaching late 2022 crisis highs of over $1,000 per 1,000 cubic meters, narrowing the window for replenishment before the heating season and increasing supply reliability risks for European consumers.

Governor of the Kaliningrad region Alexey Besprozvannykh announced that gasification of Baltiysk will be completed by September 1, 2027. The first stage has already been completed and covered about 5 thousand residents, the second stage will be completed by March 2027 for another 7 thousand people, the third stage - for the remaining 4 thousand residents by the beginning of the 2027 heating season.

High gas prices and a backlog in filling underground gas storage facilities increase the risks to Europe's reliable gas supply during the cold period, Gazprom reported on September 10 in Moscow.

The Rosseti company, with the support of the government of the Yaroslavl region, is beginning the construction of a new electrical substation in the Kuznechikha settlement, which will provide electricity to the Zavolzhsky district of Yaroslavl and the territory of the Yaroslavl district. There are also plans for a project to illuminate the highway from Yaroslavl to Uglich for two years, with work starting this year. In 2026, Rosseti's investment in the region amounted to more than 4 billion rubles, and the investment program until 2030 is designed for 14 billion rubles, including the reconstruction and construction of more than 1,000 km of networks.

The approach of the heating season in Europe is reducing the ability to restore gas reserves in underground storage facilities, leaving the market vulnerable to rising demand, import disruptions and competition with Asia for liquefied natural gas, Gazprom said.

Analysts of the Telegram channel “Hard Figures” and Dmitry Polevoy from “Astra Asset Management” believe that the reduction of the Central Bank key rate by 0.25 percentage points. September 11 may be a manifestation of regulator optimism, despite continued high inflation and growth in the money supply. Most experts expect the rate to remain at 14%, but some, including Goldman Sachs, predict a decrease to 13.75%. The decision will be announced on Friday at 1:30 p.m.