Gazprom CEO Aleksey Miller warned that European gas prices could double and exceed $2,500 per 1,000 cubic meters, citing record-low storage levels. European underground gas storage is only about 74% full, the lowest since 2009 and well below the five-year seasonal average of 86%, while Germany stands at about 61.6%. Equinor CEO Anders Opedal also acknowledged storage is at its lowest seasonal level since 2011, and wholesale gas prices hit a near four-year high above 108 USD/MWh in late October. Household gas prices in Germany rose 55% this year, and some fertilizer, chemical and steel producers have cut output, while energy majors such as Shell posted profits of $12.1 billion from July to September 2026. Brussels is pressing ahead with bans on Russian gas, with long-term LNG contracts prohibited from January 2027 and pipeline contracts expected to end in late 2027.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Người Nga nhắc nhẹ về “mùa đông tồi tệ” và nghịch cảnh nhói lòng ở châu Âu
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natural gasRussiaEuropeenergy security
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Related tickers and likely impact
EUR/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 1.11919 |
| Change that session | +0.04% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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