Expert: gas price in Europe will not decrease until the end of this year

The cost of gas in European markets will not decrease until the end of 2021, said the head of the board of the Association of Energy Suppliers Artem Kompan in an interview with UNIAN.

Expert: gas price in Europe will not decrease until the end of this year

“Forecasting in the current market conditions is a thankless job. It can be expected that the price will not fall below the current levels until the end of the year. But it can continue to grow on the news on Nord Stream 2, the results of the elections in Germany and a possible cold snap”, Kompan said.

According to the ICE exchange, the cost of gas in Europe during September 29 was fixed at a level above $ 1,000 per thousand cubic meters. The price of the November futures on the TTF hub in the Netherlands has risen to about $ 1,045 per thousand cubic meters.

Experts note that over the past few weeks, the price of gas on European markets has almost doubled. In August, futures for the October delivery of 1,000 cubic meters were sold for $ 500, and on September 1, the same volume could be purchased for $ 614.

Energy expert of the Financial University under the Government of the Russian Federation Igor Yushkov stressed that the record rise in gas prices in Europe does not depend on the Russian gas pipeline Nord Stream 2.