The Kremlin today assured that Russian gas supplies to Europe will not be suspended despite threats from Belarus, which warned yesterday that it might close a large gas pipeline passing through its territory if the EU imposes new sanctions on it. .
Russia “is and will remain a country that keeps all its commitments to deliver gas to European consumers,” said Kremlin spokesman Dritri Peshkov.
At the same time, Peshkov commented that Belarusian President Alexander Lukashenko did not consult Moscow before threatening the EU that it would cut off gas supplies.
European gas prices fall as Kremlin cuts fears over flow to Europe
European spot gas prices fell today after the Kremlin said Belarus had not consulted with Moscow before threatening to cut off gas supplies to Europe, adding that Gazprom remained a reliable gas exporter.
Belarussian President Alexander Lukashenko warned yesterday of possible retaliation against the European Union (EU) for imposing new sanctions on migrants at the Belarus-EU border, including halting the transit of gas and goods through Belarus.
European gas spot prices rose about 2% to 75.25 euros per megawatt hour yesterday before falling to the end of the day in a sign that the market did not take seriously the threat from Belarus, which has Russia as its its closest ally.
The Belarusian section of the Yamal-Europe pipeline, one of the routes for Russian gas exports to Europe, belongs to the Russian state monopoly Gazprom.
“This is a statement from the President of Belarus,” Kremlin spokesman Dmitry Peshkov said today. “I want to remind you of President Putin’s statement that Russia has always complied with its treaty obligations … Belarus is our ally, but it is a sovereign state.”
The Dutch contract for gas, which is considered a European benchmark, fell to 75.12 euros / MWh after Peshkov’s comments, from 79.40 euros this morning and about half of 155 euros, a level that rose in October. , when the slightly larger than expected volumes exported by Russia were a determining factor for prices.
Gas prices have risen this year due to a number of factors including low inventories and increased demand following the easing of COVID-19 lockdowns. In Britain, some energy companies have gone bankrupt and consumers are facing much higher energy bills, while many businesses are also feeling the effects of higher energy costs.
The Kremlin has denied that there were political motives behind the gas supply, and Russia this week began replenishing European storage facilities, with Peshkov reiterating Moscow’s position that Russia is a “reliable supplier.”
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