Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, commented to the Vzglyad business newspaper on the prospects for a complete cessation of Russian gas supplies to the EU countries.
A deadlock has developed, in the context of which this stop may be fatal for Nord Stream 1. The gas pipeline may never work again. “When earlier traders tested 3.5 thousand dollars per thousand cubic meters, they showed an approximate bar for prices, which is possible if Nord Stream 1 is turned off. In fact, it happened on the 2nd of September. There are no positive signals that this problem will be resolved in the coming months,” Alexey Gromov says.
Now he does not rule out a scenario that he considered unlikely back in the spring - this is the announcement by Europe of an embargo on Russian gas or a price ceiling, which is akin to an embargo.“According to my feelings, now the realization is coming that the gas divorce between Russia and Europe has taken place. And only those deliveries that still go through the Ukrainian route and the Turkish Stream will be preserved, because our friendly countries are there, and we meet their needs,” Alexey Gromov notes.
Subscribe for updates
and be the first to know about new publications