Russian President Vladimir Putin explained the “hysteria” in Europe due to the rise in gas prices. He said this during a meeting with members of the government. The broadcast is on YouTube.
“You see what is happening in Europe. There is hysteria and some kind of confusion in the markets! Why? Because they don’t take it seriously. Someone speculates on the problems of climate change, someone underestimates something, someone starts to reduce investments in the extractive industry, ”he said.
Meanwhile, the exchange price of gas in Europe has broken another record. The cost of December futures on the ICE exchange reached $ 1,456 per thousand cubic meters. Against the background of a record rise in gas prices, Gazprom shares have renewed their all-time high.
According to Saxo Bank analysts, gas prices will decrease if they manage to launch Nord Stream 2 by the end of the year. Otherwise, if the winter is cold and gas supplies do not increase, Europe will face a “gloomy and expensive time.”