Russia’s Gazprom will help the European region cope with the winter and provide itself with the necessary fuel
Today it is completing the pumping of gas into Russia’s underground storage facilities. This will ensure an uninterrupted supply of fuel to the domestic market. After that Gazprom will start to increase deliveries to European UGS facilities.
This was reported by the Izvestia newspaper, citing an instruction from Russian President Vladimir Putin. He spoke to Gazprom CEO Alexei Miller in late October and asked to increase the amount of gas in storage facilities in Austria and Germany after the work in Russia is completed.
The European market is facing a serious energy crisis: gas prices are through the roof, and many in the European Union fear they will freeze to death next winter. Moscow is willing to supply more fuel to help the region.
Europe’s best bet might be to launch Nord Stream 2. The fuel would go there faster, in larger volumes and cheaper. However, Brussels is doing its best to delay certification of the project.