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Prices for Russian gas attain seven-year maximum in Europe

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Prices for Russian gas attain seven-year maximum in Europe

Prices for Russian gas on the German border have reached a maximum for the last seven years — $5.88 per million British thermal units, which is almost 50% more than in September last year, Bloomberg reports, citing the data from the IMF.

Bloomberg notes that prices of Gazprom in the European market are recovering after a 12-year decline. The news agency says that Gazprom plans to deliver record volumes to its biggest market for the second consecutive year, as supplies of liquefied natural gas to Europe may increase this summer.

As a Deputy Chairman of the company, Alexander Medvedev, previously stated, Gazprom sees a 5-percent growth in gas demand in the European market.

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