Gazprom likens the development of new LNG terminals in the European Union to buying glass instead of water

No time to read?
Get a summary

In terms of production, the gas industry does not receive the necessary investment volumes. Therefore, the development of terminals for the purchase of liquefied natural gas (LNG) by the authorities of European countries is unlikely to help solve the problem of scarcity of energy resources in the region. opens The words of the head of the energy department holding “Gazprom” Kirill Polous “Interfax”.

“Faced with the problem of gas shortages, European companies are actively trying to solve the problem by developing their LNG receiving infrastructure. As a result, there is an attempt to quench the thirst for energy, in a figurative sense, by buying glasses, not water, ”said Polous.

According to him, the increased demand for liquefied gas in Europe has led to an increase in world prices for this type of fuel. As a result, local authorities are forced to purchase LNG at an “extraordinary” cost.

“Gas shortages in the European market have already led to a change in trade flows and higher prices around the world. For the first time in a long time, rapid demand for gas in EU countries has led to a “European price premium” (an additional price premium for LNG delivery to Europe – socialbites.ca)”, concluded Polous.

December 14, Alexei Grivach, Vice President of the National Energy Security Fund (NESF) judicial France and Spain are the main European buyers of Russian liquefied natural gas (LNG). From January to September 2022, these countries received about 60% of the total volume of this fuel from Russia to the European Union (12 million tons).

No time to read?
Get a summary
Previous Article

Putin described the sanctions as an incentive to build an economy with full sovereignty

Next Article

Putin speaks out against the ‘bondage’ of borrowing from abroad