Gas exchange prices in Europe, according to Gazprom's conservative estimates, may exceed $4,000 per thousand cubic meters at their peak in the fall-winter period, company head Alexey Miller said during a conference call devoted to Oil and Gas Industry Workers' Day.

"The gas price is regularly above the level of three thousand dollars per thousand cubic meters. You and I at Gazprom have made price forecasts for the coming winter. And you know, according to a conservative estimate, if the current market trends persist, the price at the peak of the autumn and winter peak may exceed four thousand dollars per thousand cubic meters," Miller said in the transcript of the meeting.

Gas exchange prices in Europe have approached record levels amid continuing restrictions on supplies of natural gas from Russia, according to data from the London-based ICE exchange and gas transport operators.

The settlement price of gas futures with delivery in September (according to TTF) was $3507.3 on August 26, which was a record value since 1996 when gas hubs operated in Europe. It has risen about $1,000, or nearly 40%, over the week. Meanwhile, gas quotes were momentarily at $3,525.9 on Friday, taking another step towards touching a new all-time high of $3,892. Since August 29, however, prices have been on a downward trend, with the value of the nearest October futures falling to nearly $2,400 during trading today.