Saturday, November 27, 2021

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Putin calls for containing impact of European energy crisis in Russia

Putin calls for containing impact of European energy crisis in Russia

Moscow, Oct 25 (Prensa Latina) Russian President Vladimir Putin instructed his government to draw a plan to contain the consequences of the European energy crisis before November 1, the Kremlin website reported today.
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‘The Russian government must develop a set of measures to neutralize the risks of the negative consequences of energy shortages in European countries’, the Russian president said.

Among possible dangers, Putin mentioned the destabilization of the markets for nitrogen fertilizers, metallurgical products and food; according to the statement, that also tells about the appointment of Prime Minister Mikhail Mishustin as head of the mission.

The European energy crisis was triggered in recent weeks, after spot gas prices rose above 1,000 dollars per 1,000 cubic meters of fuel and nearly reached 2,000 for the same volume.

Specialists believe that the main cause was the insufficient filling of gas storage facilities, with only 71 percent in mid-October.

Price imbalances are also associated with the reduction in wind generation and the growth in demand for liquefied natural gas in Asia, which caused an increase in market prices in that region and a decrease in supplies to Europe.

Gazprom reiterated this Monday that it supplies gas to Europe in accordance with consumer requests and in line with current contracts.

Such an assertion by Russian largest gas company responded to a question from the TASS news agency about the reasons for the decline in gas deliveries through the Yamal-Europe gas pipeline.

pgh/lcr

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