Alexey Belogoryev, Deputy Director on Energy Studies of the Institute for Energy and Finance, in an interview with the internet portal “Svobodnaya pressa” commented on the statement of Russian Deputy Prime Minister Alexander Novak about the possibility of increasing gas supplies to Europe.
Commenting on the statement by Russian Deputy Prime Minister Alexander Novak about the possibility of increasing gas supplies to Europe, Alexei Belogoryev believes that it is rather a matter of the medium term.
As Aleksey Belogoriev notes, at present Russia is fulfilling all contracts in full, and the freezing of fuel transportation through the Yamal-Europe pipeline is most likely due to the fact that consumers have reduced gas offtake in excess of contractual minimums - that is, gas is very expensive and they just don't want to take it right now.
“Yes, our country has big plans to increase gas production, since there is a great potential, but now, in my opinion, this is not very beneficial for Gazprom,” the expert believes.
According to Belogoryev, Nord Stream 2 could solve the issue of increasing gas supplies, but its certification has been suspended: “The certification problem is not in the German Federal Network Agency, but in the documents that Gazprom was supposed to prepare, but has not prepared. There is a version that this is being done purposefully, but I think that Gazprom is not interested or profitable in launching Nord Stream 2 this heating season. Good prices, more or less stable, even to some extent unsatisfied demand - that is, everything that a commercial company can only dream of.
“At the moment, there is a problem of high gas prices in Europe, which make gas generation inefficient. However, if gas generation is not supported, given the fluctuations in electricity generation at wind and solar stations, sooner or later this can lead to problems in providing electricity. Such a problem exists for all European countries,” the deputy director of the Institute of Energy and Finance says. He is convinced that this is why the drawdown in demand for "blue fuel" is not expected in the near future.
The expert is convinced that the certification of the gas pipeline will be completed closer to June 2022, and it will come into force by October, that is, by the beginning of the new season.
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