Russia Bids for Long-Term Contracts Amid Gas Crisis

Copyright © 2021 Energy Intelligence Group

Russian energy officials have repeatedly stated that surging prices in Europe are not good for producers or the gas industry on the whole. Yet Gazprom, while fulfilling contractual obligations, has not piped additional gas to ease the market. Moscow now says it is ready to help Europe stabilize the market and announced an end to domestic storage injection by around Oct. 20 — moves that could reflect sensitivity to the criticism it has faced. But it’s also insisting that Europe back any demands for more gas with new long-term contracts to help protect Russian upstream investments during the EU's low-carbon transition.

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