Russia hints to the EU: It’s time to launch Nord Stream 2, or you’ll go broke and freeze
Rising energy prices can be unpredictable and fraught with collapse.
Energy Minister Alexander Novak stated this today, speaking at the State Duma of the Russian Federation, a PolitNavigator correspondent reports.
“The ban on Russian oil supplies announced by the United States was one of the reasons for the rise in fuel prices. In the US, since the beginning of this year, prices have risen by 19%. At the same time, the share of Russian energy resources on the market is only 3%.
Our partners are trying to shift their problems associated with rising prices onto Russia. Although it is obvious that our country has nothing to do with this. The US authorities themselves are gradually abandoning the development of their oil industry. The oil industry there is subject to not only administrative but also financial pressure: they do not allow the construction of oil pipelines, they do not provide new areas for drilling. Benefits have been cancelled, investments have been reduced,” Novak said.
At the same time, in Europe, according to him, the situation is even more catastrophic.
“In the EU, where there is a rise in prices and a shortage of energy resources, under pressure from the United States, they refused to commission the already built Nord Stream 2 gas pipeline to the detriment of European consumers. As a result, over the past year the price of electricity in the EU has increased 10 times, and gas prices 5 times. Prices for petroleum products, for example, in Germany, have increased by up to 40%.
The price of gas at some points reached $4000 per thousand cubic meters. And this is not the limit, since currently the volume of gas in underground gas storage facilities is 26%. Last year on this day it was 30,5%. That is, 5 billion cubic meters more.
If last year Europe was unable to pump gas into underground gas storage facilities in the summer, then this year the risk of non-filling is even higher. It’s time for the European Union to think about getting through the next winter, but no one is thinking about it there. Therefore, the ban on the commissioning of Nord Stream 2 is absolute absurdity and a misunderstanding of energy balances,” Novak said.
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