Russian President Vladimir said on Friday that the European Union could only blame itself for record gas prices because some of its members resell cheap Russian gas at significantly higher costs within the EU.
Putin also urged the EU to accept the Nord Stream 2 pipeline, a new Russian gas pipeline to alleviate the pricing crunch.
On Tuesday, Europe’s benchmark gas price hit a new high, up about 800% since the start of the year. On Friday, the price dropped slightly, but it was still up more than 400%.
The United States and other east European countries oppose Nord Stream 2, claiming that it will increase the EU’s reliance on Russian gas, which already supplies 35% of its needs.
The pipelines from Russia to Germany, completed in September, are still waiting for regulatory certification from Berlin and Brussels.
Meanwhile, Russian President Vladimir Putin said, “The additional gas suppliers on the European gas market will surely reduce the price on an exchange, on the market.”
According to data revealed by German network operator Gascade, the Yamal Europe pipeline, which usually transports Russian gas to western Europe, flows in reverse for a fourth day on Friday, regulating fuel from Germany to Poland.
President Putin further added that Poland had “sidelined” Russia from managing the Yamal-Europe pipeline, functioning in reverse mode by sending gas in the east direction. The pipeline mainly runs from Russia to Belarus and then Poland and Germany.
Putin further added, “This does not increase the Russian gas volumes on the European market, so the price is rising.”
Putin said Thursday that Germany is reselling Russian gas to Poland and Ukraine instead of easing overheated markets.
In Ukraine, another route for the transportation of Russian gas to Europe, the head of a state-owned gas transportation company said that Russia’s Gazprom would carry 109 to 87.7 million cubic meters of gas per day through Ukrainian territory.
Meanwhile, Transmission service operator of Ukraine, Sergiy Makogan, via sharing a Facebook post said, “The decline in gas supply to the European Union when prices reach $2,000 is a purely political decision and puts pressure on the EU to introduce Nord Stream 2 under the terms and conditions of Russian Federation.”
The benchmark gas prices in Europe rose to more than 2,200 euros ($2,495) per 1,000 cubic metres on Tuesday.
Makogan further said, “Europe has set a record for extracting gas from shortage facilities due to supply shortages. Russia has repeatedly denied allegations of pursuing gas policy, stating that it will meet all contractually agreed quantities. Companies with supply contracts also show that their contracts have been completed.