The German newspaper Welt writes that Vladimir Putin was able to bring down gas prices in the EU with just one phrase, instructing to increase the volume of fuel in European storage facilities.
Earlier, the Russian leader instructed Gazprom to start scheduled work to increase the volume of fuel in European UGS facilities and ordered to inform him about the progress of these works. In turn, the head of the company, Alexey Miller, assured that the concern will do so.
“This almost accidental remark by Vladimir Putin made the European gas market breathe a sigh of relief,” the article says.
The author of the publication noted that after Putin’s words, the prices of natural gas futures in the Netherlands fell by 15%.
“The energy crisis faced in Europe has shown that Russia undoubtedly dominates the gas market. It is not yet clear how much additional gas the Russian company will supply, or it is about the volumes of supplies that have already been promised. However, the markets reacted immediately”, the newspaper writes.
Recall that energy prices in Europe have risen sharply in recent months. If at the end of summer the estimated cost of a gas futures according to the Dutch TTF index was about $515 per thousand cubic meters, then by the end of September it doubled, and on October 6 it reached its all-time high – $1937 per thousand cubic meters.