Now It’s Blame Russia for the Sudden EU Energy ‘Shortage’

ER Editor: Once again, this smells to high heaven. Now Russia’s getting the blame for withholding gas and creating those ‘shortages’, which seems to be the raison du jour for why gas prices to European consumers have to skyrocket. Which sounds entirely dubious to us.

This also puts us in mind of scamming the European taxpayer for billions in expensive vaccines, endless PCR tests and masks, etc., driving customers into Amazon’s arms and other corporations to make record profits, and unemploy millions through lockdowns and illegal vax mandates.

Nordstream II should be coming online next month, thus doubling the gas supply via the Nordstream route, yet Germany has decided to wait until January 2022 (!!) to MERELY take the decision to issue a licence.

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Gazprom: We’re Not Withholding Gas To Europe

Tyler Durden's Photo TYLER DURDEN

By Charles Kennedy of OilPrice.com

Russian gas giant Gazprom dismissed speculation and accusations that it is not supplying enough natural gas via pipeline to Europe, a senior official at Gazprom Export said, just days after the IEA demanded Russia deliver more nat gas to a continent facing an unprecedented energy crisis.

 

So far in 2021, Gazprom’s gas deliveries to Europe have reached historic highs, Sergey Komlev, Head of the Contract Structuring and Pricing Directorate at Gazprom Export, wrote in an article for Gazprom’s corporate magazine, as carried by Russian news agency TASS. Germany, Turkey, and Italy—some of Gazprom’s largest customers—all boosted imports of Russian gas in the first half of 2021, the manager said.

Gazprom’s exports to European countries rose by 23.2 percent between January and July, Komlev added. “These figures prove the absurdity of accusing Gazprom of supply shortage,” the executive noted.

Europe is grappling with soaring natural gas and electricity prices ahead of the winter heating season due to tight gas supplies, very low gas inventories, and low wind power generation amid still weather. (ER: Aside from the predictable failure of wind power, WHY are gas supplies ‘tight’?)

More than 40 members of the European Parliament from all political groups have reportedly urged the European Commission to launch an investigation into Gazprom over alleged market manipulation that could have contributed to the record-high natural gas prices in Europe. (ER: Or is it due to western companies getting greedy?)

During the summer, even with the strong rebound in European natural gas demand and surging prices, Gazprom did not book additional entry capacity to Europe via Ukraine.

Analysts say that this could have been an opportunistic move from the Russian giant to drive up Europe’s gas prices further and take advantage of the very high prices. Other analysts think that Gazprom’s effective reduction in supplies would force Europe to recognize that gas customers on the continent need the controversial Nord Stream 2 pipeline to Germany bypassing Ukraine.

Earlier this month, Gazprom said it had completed the construction of Nord Stream 2, although gas flows on the Russia-led pipeline cannot begin until Germany grants an operating license to the project.

Germany’s federal networks regulator BNA said last week it would decide no later than January 8, 2022, whether it will certify Nord Stream 2 and issue an operating license for the pipeline.

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Source

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