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According to data from the London Stock Exchange ICE, natural gas prices on the European market crossed the $3,000 mark for 1,000 cubic meters for the first time since the beginning of March.

Russian gas deliveries to Europe through the Nord Stream pipeline will cease from August 31 to September 2 for "maintenance", Russian energy giant Gazprom has said, raising the prospect of energy shortages in Europe.

European gas prices soared to a new record high at the close of trading on Aug. 19 after Gazprom's announcement. 

The price of gas on the spot market in Europe rose to 261 euros per megawatt hour after Gazprom announced that it would temporarily stop the supply of blue fuel through the Nord Stream 1 pipeline.

With anxiety in Europe escalating over Moscow's stance after the end of the ten-day maintenance period on the Nord Stream 1 pipeline on July 21, Prime Minister Kyriakos Mitsotakis called a meeting on the country's energy supply security measures.

In his video address, Zelensky recalled that the Ukrainian Ministry of Foreign Affairs had invited the Canadian representative because of what he considered to be an absolutely unacceptable exclusion from the sanctions regime against Russia, reports Interfax Ukraine.

The European Union is facing a serious natural gas supply crisis, with high prices likely to persist for another two years or so. This opinion was expressed by Bloomberg columnist Javier Blas, who deals with economic issues and the world energy situation.

Russian gas deliveries via Nord Stream - the main pipeline for gas exports from Russia to Europe - will be temporarily suspended from this morning until July 21 due to planned annual maintenance work on the pipeline. In this way, natural gas from Russia will continue to enter Western and Central Europe through only one transit line through Ukraine.

The Canadian government says it will allow the delivery to Germany of equipment from a key Russia-Europe natural gas pipeline that has undergone maintenance _ equipment the absence of which Russia's Gazprom cited last month as a reason for more than halving the flow of gas.

Germany said on July 8 it hopes to convince Canada to deliver a turbine needed to maintain the Nord Stream 1 gas pipeline, with Russia waiting on the machine's arrival before increasing supplies.

Europe faces a growing risk of recession due to rising oil and gas prices amid fears that Russia could cut off supplies altogether, economists have warned, cited by the Guardian.