Deputy Prime Minister Alexander Novak: Russia is ready to increase gas production and supplies
Alexander Novak. Photo: Russian Government / Global Look Press
Russian Deputy Prime Minister Alexander Novak announced Russia's readiness to increase gas supplies to Europe. His words are reported by RIA Novosti.
According to Novak, Russia is ready to increase gas production and supplies to meet demand in Europe in any volume. However, this requires long-term contracts, he stressed.
At the same time, the Deputy Prime Minister found it difficult to say when gas prices in Europe will be lower, since the supply must be sufficient for this. According to his forecast, this year world oil demand will grow by 4.5-5 million barrels per day, and next year it will increase by about 4 million more.
Earlier, Alexander Novak named the main reasons for the gas crisis in Europe. So, this happened due to the last cold winter and a decrease in European gas production. In addition, the situation was influenced by the fact that the European Commission “purposefully” abandons long-term contracts in favor of spot contracts.
