RIA Novosti: the average price of gas on the stock exchange in Europe in July increased by almost 50%

According to experts interviewed by the agency, tensions with supplies from Russia continue to put pressure on the region's market.

The material mentions that gas futures contracts on the TTF hub index traded in the range of $1530-2385 in July, while in 2021 in the same month they were below $500.

“The current price level is caused by a complex of factors, among them the decline in supplies from Russia and the uncertainty with the prospects for their recovery,” said Alexander Amiragyan, head of the Economics of Fuel and Energy Sectors of the Center for Strategic Research.

Also, the rise in gas prices in Europe was affected by the hot weather in Europe and the reduction in energy generation from alternative sources, he noted.

Austrian Chancellor Karl Nehammer said earlier that it was impossible to impose an embargo on gas from Russia.