Novak says Russia can supply more gas to Europe.
Russian Deputy Prime Minister Alexander Novak said that Russia is ready to increase gas supplies to Europe, but only on the terms of long-term contracts.
This is reported by the Russian TASS and Interfax.
Novak says Moscow is ready to supply more gas to Europe, but the sales policy must be clear, as upstream investments take time to pay off. He also noted that the Russian Federation has always advocated long-term contracts.
“We can supply (more gas to Europe – ed.), we have huge resources, but any production is an investment project that takes time for the project to pay off and attract investments. Therefore, the sales policy should be clear. We have always advocated so that long-term contracts, first of all, are the system of energy security for consumers who use such energy carriers,” Novak said.
Novak also refuted the statement of the head of the International Energy Agency (IEA) Fatih Birol about the involvement of the Russian “Gazprom” in the energy crisis in Europe. According to Novak, the crisis supposedly arose because of the cold winter and high needs against the backdrop of economic recovery.
