The head of Gazprom, Alexey Miller, said that Europe expects a two-fold increase in fuel prices in the event of a cold winter. According to him, at peak loads the cost can reach $2,500 per thousand cubic meters. The spot price of gas on the European exchange during trading on Friday exceeded $1,200 per thousand cubic meters for the first time since December 2022. Day-ahead prices at the TTF hub reached $1,204 per thousand cubic meters, or about €104 per MWh. The December futures price for TTF in the Netherlands rose to $1,190 per thousand cubic meters (€102.76 per MWh), according to London Ice Exchange data.

The head of Gazprom, Alexey Miller, said that Europe expects a two-fold increase in fuel prices in the event of a cold winter. According to him, at peak loads the cost can reach $2,500 per thousand cubic meters. The spot price of gas on the European exchange during trading on Friday exceeded $1,200 per thousand cubic meters for the first time since December 2022. Day-ahead prices at the TTF hub reached $1,204 per thousand cubic meters, or about €104 per MWh. The December futures price for TTF in the Netherlands rose to $1,190 per thousand cubic meters (€102.76 per MWh), according to London Ice Exchange data.