Deputy Prime Minister of the Russian Federation Alexander Novak believes that the reason for the problems in the European gas market is the lack of long-term contracts, the Nord Stream-2 pipeline has nothing to do with it. He stated this in an interview with Business FM.
“Of course, there is no connection,” he said, commenting on accusations by Western media that Russia is allegedly not expanding supplies in order to force Europe to conclude long-term contracts and speed up the certification of Nord Stream 2.
“Because this is an infrastructure, not a contract. I repeat once again, Russia is fulfilling the contracts in full, this is confirmed by our European partners. There will be additional applications and an increase in volumes, which means that volumes will be considered and increased, based on the possibilities, based on additional investments that are needed to expand capacities, and so on, ”said Mr. Novak. He noted that all the necessary certifications have already been obtained: “there is a receipt of permits from the German regulator, agreed with the European Commission.” According to him, there is no gas deficit in Europe now.
The reason for this situation, according to the Deputy Prime Minister, is, on the one hand, the lack of regulation (as an example, he cited the oil market, which is “targeted” by OPEC), on the other hand, the policy of European countries, in which long-term contracts were consistently reduced, and the bet was placed on spot.
Mr. Novak called gas prices at $ 1,900 per thousand cubic meters “inadequate” and noted that “speculative factors” also play a role in its increase.
Earlier, Alexander Novak, during a session at the Russian Energy Week in Moscow, announced that the Nord Stream 2 pipeline is being filled with gas and will be ready for launch in the coming days. He also said that Russia by the end of 2021 could reach a record in gas production.
More details – in the material “b” “We have a product, they have the EU.”