Quotations of Dutch gas contracts for February, which are the benchmark for prices for the entire Old Continent, they stopped at 86 euros per megawatt hour. This is nearly EUR 100 less than during the peak of the energy crisis around December 20 last year, but still almost five times more than at the beginning of 2021.
–
Gazprom is pushing and pushing down? Diversification, you fool!
“Daily LNG shipments are 1.6 times greater than Gazprom’s exports. That is why it is so important to diversify sources “ – notes Bros.
–
Gas prices in Europe – the series continues
As a reminder, gas prices in Europe reached a record level in December 2021, when they were over EUR 180 per MWh. Since then, thanks to the supply of liquefied gas LNG to Europe, prices have dropped below EUR 100 per MHh – reminds Reuters. He adds that on Monday the wholesale gas price index increased by 5%. and was 88 euros.
–
—
The reason for the rise is the weather forecasts predicting a lower temperature and a decline in energy production from wind farms, writes the agency. He added that the reverse on the Yamal pipeline has continued since the end of last year, which reduces the supply of gas from Russia.
–
From December 21, 2021, gas in the Yamal-Europe pipeline running through Poland flows from west to east, i.e. in the opposite direction than usual. The gas pipeline supplies around one-sixth of all Russian oil exports to Europe and Turkey.
–
—
However, some Western politicians accuse Russia of deliberately halting gas supplies to Europe and using the reduced gas supply as a means of pressure in political tensions around Ukraine – the agency points out. He adds that Russia’s actions are also seen as an attempt to enforce the certification of the Nord Stream 2 gas pipeline. Moscow denies these allegations and claims that it is fulfilling its gas supply obligations.
–
See also: Anti-inflationary shield for everyone? Semeniuk on the details of the fight against inflation
—
Russia responds
What does Russia say? On Saturday, in an interview on the TV channel Rossija-1, Deputy Prime Minister Aleksandr Nowak emphasized that Russia has reliably fulfilled all last year’s obligations towards European contractors.
–
—
“We have also supplied much more gas to Germany, Turkey, and other countries which, pursuant to bilateral agreements, had the right to demand a larger volume of supplies,” he added.
–
He also stressed that the cause of the current energy crisis is “short-sighted policy of the EU, and in particular of the European Commission, which over many years has stubbornly advocated moving away from long-term contracts in favor of spot deals to reduce dependence on Russian energy supplies. “
–
“Improper planning and focus on short-term contracts is the cause of the problems of the European Union today, which is trying to shift responsibility for this state of affairs to others” – assessed Nowak.
–
—
Last week, the European Commission said it was analyzing whether “anti-competitive behavior” is taking place in the EU gas market. C.it is about the activities of the Russian company Gazprom. On Thursday, competition commissioner Margrethe Vestager questioned the company’s strategy of restricting gas supplies during increased winter demand. The EU is conducting a preliminary investigation into anti-competitive behavior in this sector.
–
—
