Europe's natural gas prices, which are reaching record highs due to supply shortages, could rise further in the near future, according to Russia's Gazprom president Aleksey Miller on Friday
Europe is entering the autumn-winter period with significant natural gas shortages in underground storage facilities, Miller said.
Speaking at the International Trade Congress in Moscow, Miller said the natural gas deficit in underground storage facilities in Europe is 22.9 billion cubic meters.
'All experts in Europe and Asia say that this shortage in underground gas storage facilities in Europe cannot be compensated,' he added.
Miller said Russia's gas giant Gazprom will have sufficient gas for the next 100 years given that Russia holds the world's largest natural gas reserves.
European natural gas prices in the Dutch Title Transfer Facility (TTF) hit record high levels on Wednesday surging to €77 per megawatt-hour.
Reporting By E. Gurkan Abay in Moscow
Writing By Zeynep Beyza Kilic