Gas price in Europe exceeded $1600 per thousand cubic meters

The price of gas futures in Europe has broken another record – more than $1600 per thousand cubic meters, RIA Novosti reports.

Gas price in Europe exceeded $1600 per thousand cubic meters

The price of gas futures in Europe has reached a new all-time high, surpassing the $1,600 per thousand cubic meters bar, according to data from the ICE Futures exchange.

The previous record at the auction was recorded the day before, on October 5 – prices rose to $1456.8, but at the close they fell slightly – to $1417.7. The European Commission will submit proposals for gas market reform by the end of the year, but gas prices in Europe will remain high throughout the winter.

Kadri Simson, the European energy commissioner, suggested that gas prices in Europe will decline from spring.

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