27-12-2021, 12:22 PM
PUBLISHED FRI, DEC 24 20216:59 AM EST
Europe is paying record gas prices because of its failure to sign long-term supply contracts and could ease the pressure by ending delays to the Nord Stream 2 gas pipeline that runs from Russia to Germany, a top Russian official said on Friday.
Europe’s benchmark gas price climbed to a new record on Tuesday, up almost 800% since the start of the year. The price eased on Friday but it was still up more than 400%.
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The project is opposed by the United States and particularly several east European states, which say the pipeline will make the European Union even more reliant on Russian gas, which already supplies 35% of European Union’s gas needs.
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He also said European leaders had made mistakes in reducing the use of long-term supply deals in favor of the spot market, where prices are more volatile.
https://www.cnbc.com/2021/12/24/europes-...-east.html
Europe is paying record gas prices because of its failure to sign long-term supply contracts and could ease the pressure by ending delays to the Nord Stream 2 gas pipeline that runs from Russia to Germany, a top Russian official said on Friday.
Europe’s benchmark gas price climbed to a new record on Tuesday, up almost 800% since the start of the year. The price eased on Friday but it was still up more than 400%.
......
The project is opposed by the United States and particularly several east European states, which say the pipeline will make the European Union even more reliant on Russian gas, which already supplies 35% of European Union’s gas needs.
......
He also said European leaders had made mistakes in reducing the use of long-term supply deals in favor of the spot market, where prices are more volatile.
https://www.cnbc.com/2021/12/24/europes-...-east.html