European gas prices forecast to triple

Europe, as the

The cost of the fuel on the continent could hit $3,500 per 1,000 cubic meters in winter, Rystad Energy says.

A “perfect winter storm” may be forming in Europe, as the continent seeks to limit Russian gas flows, analysts at Rystad Energy said in a press release this week. They added there might be not enough LNG to replace Russian gas during the freezing weather. The price of gas in the EU was projected to soar to $3,500 per 1,000 cubic meters.

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