Dmitry Birichevsky, director of the Russian Foreign Ministry’s economic cooperation department, said that European countries, which previously signed long-term gas supply contracts with Russia, now feel much calmer than those who focus on the spot market, where prices have been breaking all historic records lately
“The specifics of the region are such that production and geographic planning of gas supplies have to be planned well in advance. However, many companies in the EU have switched to the spot market. And what has that led to? Long-term contracts ensure stability and a sense of security. Those countries that have made such contacts with Russia now feel much calmer and more confident than those who focus on the spot market”, – the diplomat said.
Earlier, the European Commission proposed to ban in the European Union the extension of long-term contracts for natural gas imports after 2049.
“I think so far this is all at the level of talk. There is a discussion on this topic, which we hear and record. If our colleagues have confidence that the market will adjust everything and it will be more profitable for them, maybe they will do so”, – the diplomat concluded.