East Committee: Gazprom fulfills supply contracts

Released on 21. 09. 2021

  • Wholesale prices for natural gas are currently very high. Nevertheless, according to the Eastern Committee, there does not seem to be any shortage from Russia. Photo: Sina Schuldt

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Higher gas prices due to artificial shortages on the part of Russia? The Eastern Committee contradicts.

Berlin (dpa) – From the point of view of the Eastern Committee of the German Economy, the currently high gas prices are not the result of a deliberate shortage by Russia. There are a number of explanations for this.

In addition to the global economic recovery, the reasons include necessary maintenance and repair work on European pipelines and the great demand for liquefied gas in Asia, announced the chief executive of the East Committee, Oliver Hermes, on Tuesday.

Related to Nord Stream 2?

He was referring to speculation that Russia would use high gas prices to force the Nord Stream 2 Baltic Sea pipeline to go into operation quickly. “Gazprom is fulfilling its supply contracts,” said Hermes. Russian pipeline gas is currently significantly cheaper than gas on the spot market: “This shields Europe to a certain extent from the high world market prices.”

According to Hermes, ” but contribute to calming the market situation ┬╗if Gazprom offered additional delivery quantities. Extremely high gas prices may not be in Gazprom’s interest in the long term because competition from liquid gas suppliers or other energy sources would increase. According to Hermes, he does not expect any short-term relief from Nord Stream 2. When it comes to certification, care clearly comes before haste.

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