BERLIN, October 12. / TASS /. Russia has always been a reliable supplier of gas to Europe. This opinion was expressed by the former German Chancellor Gerhard Schroeder in an article published on Tuesday for the newspaper Handelsblatt…
“Gas production there [в России] in the first eight months of the year increased. Despite this, he said, the export of Russian gas approached a record level. 40% compared to last year, “- he clarified, recalling that earlier the Ministry of Economy of the Federal Republic of Germany announced the fulfillment of all agreements by Russia.
“For more than 50 years, Russia, that is, the former Soviet Union, has been a reliable supplier, as it was during the real Cold War. [этой] cold gas war ”, – the chancellor.
Schroeder supported the Nord Stream 2 project. “We will continue to need gas,” he said, pointing out that gas-fired power plants could make up for electricity shortages during the transition to renewables, which he estimates will take “presumably three decades.”
“In this regard, any additional pipeline is good for the European market, as for other projects that are currently planned or underway,” the former chancellor said. “The more sources and receipts, the lower the flows we have, the better it is for the EU, but primarily for end users,” Schroeder said.
China’s demand has risen
The former head of the FRG government believes that “the situation on the gas market as a whole will stabilize” in the coming months. “The current situation clearly shows that gas trade is now becoming more global.
Schroeder pointed out that the US “quadrupled its LNG supplies to China from January to August 2021.” “Tankers with liquefied natural gas are sent to Asia. China imported 22%. [газа] – he explained.
“On the one hand, the United States demands that Europe restrict its trade with China, on the other hand, they profitably benefit from selling natural gas in Europe, and to China,” Schroeder said.
The gas price in Europe at the opening of trading on the London ICE exchange on Tuesday dropped to $ 970 per thousand cubic meters. m, show the data of the trading platform. The cost of November futures on the TTF hub in the Netherlands has now settled at $ 970 per thousand cubic meters. m, or € 81.2 per MWh (based on the current EUR / USD exchange rate, ICE prices are presented in euros per MWh). On Monday, the price of gas in Europe rose to $ 1,123 per thousand rubles. cub. m, but by the end of the day again dropped to $ 1,000.
On October 6, TTF set a new all-time high when the gas price exceeded $ 1,900 per thousand rubles. cubic meters, but after that it began to decline rapidly. By the close of trading, the price dropped by one and a half times. The high volatility of prices on the European gas market is associated with the low occupancy of gas storage facilities ahead of the coming winter.