Expert Says Renewed Russian Gas Purchases Could Ease European Price Pressures

Gas prices in Europe surpassed $1,000 per 1,000 cubic meters during trading on September 14, according to data from London's ICE exchange reported by Russian state news agency TASS. The outlet said this marks the first time the benchmark has crossed that threshold since December 2022.

TASS reported that an unnamed expert cited in its coverage said only a resumption of Russian gas purchases by European buyers could prevent further price records from being set on the continent.

The report did not provide additional detail on the identity of the expert, the specific reasoning behind the claim, or independent verification of the price data beyond the ICE exchange figures cited.

European gas markets have experienced significant volatility since 2022, when supplies from Russia to the European Union were sharply reduced amid the fallout from Moscow's invasion of Ukraine and subsequent sanctions and countermeasures. European nations have since sought to diversify their energy supplies, including increased imports of liquefied natural gas from other producers.

TASS did not specify what factors it or the cited expert believe are currently driving prices upward, nor did it detail current volumes of Russian gas still flowing to European markets through existing pipeline arrangements.

This report is based solely on information provided by TASS, a Russian state-run news agency, and has not been independently corroborated by other sources at this time.