Putin maintains tension with Europe: he attributed the 400% increase in gas prices to the obstacles against Nord Stream 2

Russian President Vladimir Putin (Photo: REUTERS) (SPUTNIK /)

The European Union (EU) can only blame its own policies for the record gas prices it is suffering., while some of its members resell cheap Russian gas at much higher prices within the bloc, Russia‘s president said, Vladimir Putin.

In this context, Putin insisted again and asked the EU to approve a new route for Russian gas, the Nord Stream 2 pipeline, to ease the rise in prices. In an extortionate tone, Putin claimed that the operation of the gas pipeline would make it possible to increase “the additional supply of gas volumes to the European market and lower its price on the stock market, in the spot market.”

The benchmark gas price in Europe hit a new record on Tuesday, with a rise of almost 800% since the beginning of the year. The price fell on Friday, but still accumulated a rise of more than 400%.

Nord Stream 2 has the opposition of the United States and, especially, of several states of Eastern Europe, who claim that the gas pipeline will make the EU depends even more on Russian gas, which already supplies 35% of the block’s gas needs.

The logo of the Nord Stream 2 gas pipeline project (Photo: Reuters)
The logo of the Nord Stream 2 gas pipeline project (Photo: Reuters) (MAXIM SHEMETOV /)

The gas pipeline, which runs from Russia to Germany, was built in September and is still awaiting regulatory approval from Berlin and Brussels. However, according to the German Federal Network Agency, the The gas pipeline certification process was provisionally suspended until all the procedures required by German law are completed.

Once all the requirements are met, the Agency will have four months to draft a decision, that according to the community law will be transferred to the European Commission for it to take a position.

“Additional gas supplies in the European market they would surely reduce the price in an exchange, (in the market) in the spot “Putin said, as quoted by the news agency ESTUARY in a joint meeting with the State Council and a council on science and education.

The situation was aggravated on Friday, when the Yamal-Europe gas pipeline, which usually sends Russian gas to Western Europe, was flowing in reverse for the fourth day in a row, pumping fuel from Germany to Poland, according to data from the German network operator Gascade.

Archive image of Gazprom's facilities at the Bovanenkovo ​​gas field on the Arctic Yamal Peninsula, Russia (Photo: Reuters)
Archive image of Gazprom’s facilities at the Bovanenkovo ​​gas field on the Arctic Yamal Peninsula, Russia (Photo: Reuters) (Maxim Shemetov /)

Russian gas giant Gazprom has not reserved transit capacity to export via Yamal-Europe by December 25, the auction results showed. Gazprom typically reserves capacity through the route on a short-term basis, after Poland and Russia chose not to extend their long-term transit agreement last year.

Putin said that Poland “marginalized” Russia from the Yamal-Europe management, which was operating in reverse mode, sending gas to the east. The gas pipeline runs from Russia to Belarus and runs to Poland and Germany.

“This does not increase the volumes of Russian gas in the European market, so the price is going upPutin said according to the news agency Interfax, on reversed flows.

In Ukraine, another transit route for Russian gas to Europe, the head of the state gas transmission operator said that Gazprom had lowered the daily flow to 87.7 million cubic meters (lcm) from 109 lcm.

Ukraine prepares its borders for an eventual attack by Russia (Photo: EFE)
Ukraine prepares its borders for an eventual attack by Russia (Photo: EFE) (ANATOLII STEPANOV /)

“The reduction of gas supplies to the European Union at a time when prices reached $ 2,000 suggests that these are not economic decisions, but purely political, aimed at increasing pressure on the EU to launch Nord Stream 2 under the terms of the Russian Federation, ”he wrote Sergiy makogon on Facebook.

The benchmark gas price in Europe soared above 2,200 euros ($ 2,495) per 1,000 cubic meters on Tuesday.

The Russian Deputy Prime Minister, Alexander Novak said that Europe is missing additional Russian supplies due to the Nord Stream 2 delays, It still needs German approval to get going.

(With information from Reuters and EFE)

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