November 27, 2021
US official: Russia should send more gas to Europe 'quickly'

US official: Russia should send more gas to Europe ‘quickly’

“They can increase upstream production, they should do it, they should do it quickly, and they should supply it through the existing pipelines,” Hochstein informed journalists in a web based briefing from Washington. “If Russia has the gas to supply Nord Stream 2, as they suggest, that means they have the gas to supply it through the Ukrainian GTS (gas transit system) or other pipelines as well, so they should do that.”

Pure gas costs in Europe — which imports 90% of its provide, largely from Russia — are 5 occasions increased than firstly of the 12 months. Reserves depleted final winter weren’t sufficiently refilled throughout the heat months to calm considerations about shortages throughout the winter heating season.

Russia’s state-controlled Gazprom has continued to provide gas to European prospects below its long-term contracts however has not elevated provide on the spot market whilst costs have skyrocketed.

Some analysts and political figures have accused Russia of holding again gas provides to stress European authorities into dashing up last approval of the brand new pipeline, which may take months. Analysts don’t count on Nord Stream 2 to assist relieve Europe’s gas crunch till someday subsequent 12 months.

Hochstein repeated a warning from September {that a} lack of gas and warmth may price lives in probably the most weak communities if the approaching winter is colder than standard. He stated the “crisis that we are facing is not just about money and higher prices, it was something that literally endangered lives.”

The U.S. opposed the pipeline, saying it elevated Europe’s vitality dependence on Russia, and it’s opposed by each Poland and Ukraine over vitality safety considerations. Ukraine may lose transit charges if gas that in any other case would have gone by Ukraine’s pipeline system passes by Nord Stream 2 as an alternative.

The Biden administration dropped efforts to block it with sanctions as soon as it was nearly full, as an alternative hanging a take care of Germany that they’d take motion in opposition to Russia if it used gas as a weapon in opposition to Ukraine and that Germany would assist fund Ukraine’s transition to inexperienced vitality.

Russian President Vladimir Putin has stated the pipeline is “purely business.”

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