HomeNewsNewsGazprom says gas prices could destabilising Europe’s economy

Gazprom says gas prices could destabilising Europe’s economy

The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. REUTERS/Maxim Shemetov/File Photo

ST PETERSBURG, Russia, Oct 7 (Reuters) – Europe’s soaring gas prices coulddestabilise the region’s economy, the head of Russian gas producer Gazprom’s (GAZP.MM) export arm told a forum on Thursday, but noted cooperation between producers and consumers could help balance the market.

Prices have surged by more than 800% this year, sparking concerns about inflation and energy poverty this winter.

They have eased this week, providing some relief to markets. read more

“Currently, the European spot market shows a high price volatility and is disorienting both buyers and sellers, (this) brings risks of destabilising the entire regional economy,” head of Gazprom Export Elena Burmistrova said.

“The European spot market only reflects the current state of demand and supply…

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