Russian President Vladimir Putin on Wednesday ordered the Gazprom giant to increase gas supplies to the European Union, once Russian tanks are filled, AFP reports.

Europe, a third of whose gas comes from Russia, is facing rising energy prices amid higher demand as a result of the economic recovery that came with the amelioration of the COVID-19 pandemic.

Aleksei Miller, Gazprom’s chairman and chief executive, announced on Wednesday night the group’s plans to complete the filling of Russian gas tanks by Nov. 8 at a video conference chaired by Putin.

“Please, after the completion of the filling of underground gas tanks in Russia, by November 8, start a gradual and planned work to increase the volumes of gas in your underground tanks in Europe,” Putin said. Austria and Germany.

“This will allow us to ensure our contractual obligations in a reliable, stable and rhythmic manner and to supply gas to our European partners in autumn and winter,” he said. According to President Putin, this will create “a more favorable situation for the European energy market in general.”

“We will do that,” Miller assured.

Read also FT: Russia takes advantage of the energy crisis and offers the Republic of Moldova cheaper gas if it gives up its proximity to the European Union

In Europe, gas stocks are at their lowest level, after a prolonged winter in 2020 and not sufficiently loaded since then, despite the resumption of post-pandemic economic activity. In addition, there is a small contribution from renewable energies, such as wind energy, due to weather conditions.

According to Moscow, the EU in recent years has favored spot market purchases, subject to price fluctuations, rather than signing long-term contracts with Gazprom.

Russia says it intends to deliver more gas, but wants to return to the practice of multi-annual agreements, notes AFP.

Read also the European Commission, pressured to investigate the manipulation of the gas market by large suppliers

Editor : A.C.

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