Russia asked to pump more gas to Europe as energy crisis looms

EU and US to freeze the assets of Putin and Lavrov Image: Wikimedia

The International Energy Agency has told Russia to start pumping more gas to Europe as winter energy crisis looms. Russia however is not a member of the IEA and is unlikely to yield to international pressure.

As Europe faces a looming winter of discontent, and the UK may even be looking at a 1970s-style three day week, the Paris based IEA has called on Russia to pump more gas westward. Moscow, which was criticised for running “so-called” state, regional and local elections by the EU, is however unlikely to ramp up supplies even though it could earn the gas-rich country billions of dollars in revenue.

According to the IEA, Russia is fulfilling its long-term contracts with European counterparts but its exports to Europe are down from their 2019 level.

“The IEA believes that Russia could do more to increase gas availability to Europe and ensure storage is filled to adequate levels in preparation for the coming winter heating season. This is also an opportunity for Russia to underscore its credentials as a reliable supplier to the European market,” the IEA said on September 21.

European electricity prices have climbed to their highest levels in over a decade in recent weeks, rising above 100 euros per megawatt-hour in many markets. In Germany and Spain, for example, prices in September have been around three or four times the averages seen in 2019 and 2020.


Thank you for taking the time to read this article, please remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and follow us on Facebook and Instagram

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Deirdre Tynan

Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla. She moved to Spain in 2018 and is based in Jaen.

Comments


    Leave a comment

    Your email address will not be published. Required fields are marked *