Russian oil and gas company Gazprom came to the rescue of Europe and began to use the reserves of its repositors to send more gas to the next region. So Moscow intends to help Europeans stabilize the rise in fuel prices. This was stated by the Deputy Minister of Foreign Affairs of Russia Sergey Ryabkov in an interview with BBC .
Ryabkov rejected the assumption that Russia deliberately limits gas supplies to the European market, which faced the energy crisis. “We are in favor of the energy security of Europe, we want to work together. (…) Gazprom actually began pumping [gas] from its stocks into pipelines to stabilize the market,” said Ryabkov. Deputy head of the Foreign Ministry did not report details about increasing fuel supplies.
Ryabkova’s statements explain the data of the Association of Gas Infrastructure Europe that October 7 Gazprom translated its European storage facilities from the injection of selection after a record rush of prices up to $ 2,000 per thousand cubic meters. The fuel began to select from the underground storage “Haides” in Austria and “Yegum” in Germany. “We work consciously, quietly, soberly in the direction of stabilization. Not in our interests to rock the boat,” says the representative of the Russian ministry.
Earlier, the group of deputies of the European Parliament appealed to the European Commission with a request to investigate the role of Gazprom in the rise in gas prices. Politicians accused the company in the desire to manipulate the market and “put pressure” to Europe to speed up the launch of the North Stream-2 gas pipeline. The company rejected accusations of deliberate influence on the market and promised to correctly fulfill all its obligations. “We want to establish a bearish market [lower prices in the gas market in Europe]. Now Russia is bears, and not bulls,” said Ryabkov, using a popular metaphor of financiers.
Gas price in 2021 increased more than three times and jeopardized the restoration of European economies. They actively invested in the “green” energy, reducing investments in the production of hydrocarbons. This led to a reduction in fuel reserves throughout the region. Now they are on record low levels. According to the results of the gas day, on October 9, underground storage facilities in the region were filled with 76.39 percent. This level is 14.37 percentage points below the average for the last five years. With the approach of the winter heating season and the accelerated growth of the economy at the EU gas market, there was a deficit.
October 7, the price of gas in Europe collapsed after a multi-week rally. The market began to “calm down” after the words of Russian President Vladimir Putin on expansion of deliveries. Putin supported the initiative of the Deputy Prime Minister Alexander Novaka to increase the offer of gas in the market against the background of rising energy prices in Europe. Now fuel trades $ 1058.2 per thousand cubic meters on the London Stock Exchange.