The European Commission stated that gas supplies to the European Union (EU) from Russia were lower than expectations. According to published post, the lack of supply negatively affects the market as the heating season approaches.
At the same time, the European Commission told that Gazprom fulfilled long-term contracts with European partners, but practically did not offer additional supplies to weaken the pressure on the EU gas market. The executive body also stressed that, first of all, the rapid increase in the cost of energy is not connected with external suppliers, but with an increase in world demand for gas, which is not accompanied by an increase in the proposal. The consequences of gas lack are felt not only in the EU, but also in other regions of the world, there is a message.
“International cooperation in the field of deliveries, transportation and consumption of natural gas can help keep prices. The Commission is a dialogue with the main manufacturers and consumers of natural gas to contribute to the expansion of trade. This dialogue with our international partners should increase the liquidity and flexibility of the international Gas market to ensure sufficient and competitive supply of natural gas, “the message says.
Europe faced the deficiency of energy against the background of a limited supply from Russia and Norway and the increased consumption due to the restoration of the economy after the pandemic. Gas prices reached historical maxima, and on October 6, they almost got to two thousand dollars per thousand cubic meters. After Vladimir Putin’s statement about the possible expansion of the proposal, the market began to calm down, and the cost of gas decreased. Currently, gas is traded at a price of $ 1,077 per thousand cubic meters, according to the London Stock Exchange ICE.