MOSCOW, August 25. /TASS/. The price of gas in Europe exceeded $3,300 per 1,000 cubic meters for the first time since March 7, according to data from the London ICE exchange.

The cost of a September futures at the TTF hub in the Netherlands rose to $3,333 per 1,000 cubic meters or 323 euros per MWh.

The price grows amid an increase in the cost of Asian futures for the supply of liquefied natural gas due to increased competition in the market among developed countries, including Japan and South Korea, which are building up stocks before winter.

Anticipation of suspension of supplies via Nord Stream for three days from August 31 due to the repair of the only gas compressor unit remaining in operation also has an impact on the price.

On March 7, 2022, the price of gas for reached almost $3,900 per 1,000 cubic meters first time ever.

Gazprom does not rule out that this winter gas prices in Europe can rise above the record $4,000 per 1,000 cubic meters.

Experts interviewed by TASS said gas prices in winter can reach a record $5,000 per 1,000 cubic meters in case of a sharp cold snap and a reduction in stocks in storage. In their opinion, there is no reasonable limit for spot prices in the market now.

The Nord Stream gas pipeline, which supplies gas from Russia to Europe, has been used at about 20% of its maximum capacity since July 27 due to the shutdown of two gas turbines. One of them, built in Canada by Siemens Energy, was sent to Montreal for repairs. Due to Ottawa's sanctions against Russia, the manufacturer initially refused to return the repaired turbine to Germany, but after numerous requests from Berlin, the company decided to do it. On July 25, Gazprom announced the forced shutdown of another gas turbine engine at the Portovaya compressor station. Consequently, only one turbine remains in working condition now.