Putin Says European Gas Prices Could Reach $1,500 per 1,000 Cubic Meters
Russian President Vladimir Putin said traders' reliance on cheaper stored gas could push European prices sharply higher, according to TASS.
Russian President Vladimir Putin said he does not rule out the possibility that European gas prices could reach $1,500 per 1,000 cubic meters, according to a report by the Russian state news agency TASS.
Putin said traders currently believe it is more advantageous to extract gas from storage facilities that was purchased at lower prices rather than buy gas at current market rates, TASS reported.
According to Putin, this practice of drawing down previously stockpiled gas will eventually lead to price growth in the European market, TASS said.
The report did not provide additional details on the specific timeframe or market conditions Putin referenced, nor did it include independent verification of the price projection.
TASS is a Russian state-owned news agency.
Sources
- Putin does not rule out European gas prices reaching $1,500 — TASS (Russia)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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