Russia wants to cut gas price by 60% to maintain energy control
This will help Gazprom maintain control over the European market.
Russia wants natural gas prices in Europe, its largest buyer, to decline by about 60% over the long term, as a prolonged rally will destroy demand for supplies from Gazprom, reports Bloomberg with reference to two officials in the Russian Federation.
Russia wants prices in Europe at $ 300-400 per thousand cubic meters, which will help Gazprom maintain control of the continent’s market if countries from the UK to Poland switch to cleaner energy sources, one official said. Another source named a range of $ 200 to $ 400, but low prices are a less acceptable scenario.
This is in stark contrast to current prices in Europe, which have repeatedly climbed to record levels in recent weeks amid the energy crisis. Arose from insufficient supplies ahead of winter, when reserves on the continent are at their lowest level in at least a decade, pipeline flows are limited and competition with Az for liquefied gas has intensified.
