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Europe, Record Gas Price Hike

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Europe, Record Gas Price Hike

Gas costs in Europe have risen to a record 292 euros per megawatt hour. Due to the Nord Stream gas pipeline being shut down by the Russian gas giant Gazprom starting on August 31 for maintenance, there may be a gas shortage in Europe, which is the cause of the price hike. Market participants are worried that this three-day halt for renovations may last longer.