Putin compared prices for Russian gas for Belarus and the European market

Belarus buys Russian gas seven to eight times cheaper than it costs on European spot markets, Russian President Vladimir Putin said at a meeting of the Supreme State Council of the Union State. The broadcast was carried out on the TV channel “Russia 24”.

According to him, Russia and Belarus constantly monitor oil and gas issues, they are very important and often cause controversy, but in this area the parties have made serious progress. “You yourself know what is happening on the world oil and gas markets, and the Republic of Belarus today receives gas from Russia at seven or eight, or even at some moments, nine to ten times cheaper than on the European spot markets,” he said. Putin.

He added that gas prices for Belarus are also three to four times cheaper than for other buyers who have signed long-term contracts with Russia.

Earlier, an energy crisis began in Europe, due to which gas prices began to rise. Prices rose against the backdrop of calm weather, which led to a serious drop in wind power generation, the approaching heating season and uncertainty about the launch of the Nord Stream 2 gas pipeline. In addition, on September 10, Putin said that fuel is becoming more expensive due to the policy of the European Commission with an emphasis on exchange mechanisms in determining gas prices.

On October 27, Putin instructed the head of Gazprom, Alexei Miller, to increase the volume of gas in underground storage facilities in Europe after the Russian storage facilities are filled. Miller said the order would be fulfilled. After that, the price of the November TFF futures on the ICE Futures exchange decreased.

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