22.12.2021, Moscow.
Gas prices are rising due to financial speculation, among other reasons, director of the National Energy Institute and editor-in-chief of the Gazprom magazine Sergey Pravosudov said in a commentary for Rossa Primavera News Agency on December 22.
He said that prices are rising not only for gas, but for many commodities as well. This is “due to the fact that a lot of money was issued in the world and it came to the stock exchanges,” which led to an explosive increase in prices of many goods.
“For gas, just most noticeably, because it’s winter, there is little gas in the European storage facilities, and consumption has increased worldwide, not only in Europe, but also in Asia, accordingly, a deficit was formed,” Pravosudov outlined the picture.
He declared that the competition for supplies of gas, primarily liquefied gas, has sharply increased. These preconditions gave traders a possibility to jack up gas prices: there is much money on the market and there are conditions that can explain a price increase.
On December 21 the gas prices in Europe reached a historical record. For the first time they exceeded $2000 per thousand cubic meters. During the day prices rose by 27%; the maximum futures price was $2150.
Source: Rossa Primavera News Agency
