The gas crisis and the rise in fuel prices in Europe happened due to an acute shortage of reduced natural gas (LNG). This caused a game to increase prices by regional players, considers the head of the management of contracting contracts and pricing “Gazprom Export” Sergey Komlev, his words reports TASS.
“Such a” gas poker “with an increase in rates and led to the fact that the price of natural gas in Europe and Asia easily crossed the line of thousands of dollars per thousand cubic meters,” he explained. According to Komlev, the LNG surplus in 2020 and its deficit in 2021 “with all the sharpness exposed the problem of reliability of supplies of flexible, spot LNG.”
He believes that the EUROPE rate on LNG as a source of diversification of deliveries did not justify itself. Komlev also believes that European countries this year will face with increasing CO2 emissions due to increased coal burning and against the background of gas deficiency. As a result, Europe will be thrown back in the struggle for reducing emissions, Komlev added.