According to Alexander Novak, a new gas crisis in Europe is not ruled out
Gas consumption in Russia is at a record high, but Moscow is still ready to increase supplies to Europe if such a request is made, Deputy Prime Minister Alexander Novak was quoted as saying by Reuters.
European gas spot prices jumped 800 percent this year amid demand recovering from the coronavirus pandemic. Gas prices fell earlier this month after Russia, Europe’s largest supplier, said it would increase supplies, but that remains to be seen.
“I want to emphasize that in Russia we have record high data on gas consumption this year, which is due to the active economic recovery,” said Novak.
Russian gas exports to the EU are already at record highs. Moscow has said it must first complete the filling of its own gas storage facilities before increasing supplies to the spot market in Europe. This is planned to happen by the end of October.
Novak did not specify the amount of Russian gas reserves, but according to him, the European underground gas storage facilities do not reach about 25 billion cubic meters of gas. He stressed that strong domestic demand would not prevent Russia from offering larger supplies to Europe if it received such a request.
Russia does not rule out the possibility of a new gas crisis in Europe, Alexander Novak was quoted as saying by DPA. He called on European leaders to negotiate, saying Moscow is ready for dialogue.
The energy superpower has repeatedly denied responsibility for rising prices. The Deputy Prime Minister pointed out that Russia is fully fulfilling its contractual obligations and that supplies to world markets have already increased by 15 percent compared to last year.
Russia itself has not consumed as much gas for a long time as in 2021. Novak explained this with the cold winter and the recovery from the pandemic.
Recently, Russian President Vladimir Putin called for the rapid commissioning of the Nord Stream-2 gas pipeline, which is to deliver gas from Russia via the Baltic Sea to Germany. Supplies along this route will ease tensions in the gas market, Novak said.
The facility has been completed, but a permit from the German authorities is still pending, DPA reminds.
–
