Russia sees record gas demand but still ready to boost EU supplies if requested:Novak

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Russia sees record gas demand but still ready to boost EU supplies if requested:Novak

In what could be contemplated as a soothing remark for a raft of major European economies which had been grappling with an outrageous energy crisis, Russia’s Deputy Prime Minister Alexander Novak said on Saturday that Russia, which had been a G8 (Group of Eight) nation before having been set aside over annexation of Crimea, had been witnessing a record consumption of natgas lately, but Moscow would still ramp up EU supplies, if such requests came into being.

In point of fact, latest comments from the Russ Deputy Prime Minister came forth just days after a tenth of UK’s gas stations had been forced to shut-in due to a sheer lack of supplies. Besides, in the latest flashpoint of a growing uproar in energy crises in the Europe ahead of a winter which is expected to be much colder than usual, gas prices in Europe had soared by more than 800 per cent this year, as demands had stepped up sharply followed by a robust reopening of global economy.

Nonetheless, natgas prices were heaved down earlier this month after Russia, the key gas supplier of Europe, had said in a statement that it would deliver more, though, the pledge had not been materialized yet.

Russia ready to step up gas supplies to EU amid soaring demands at home

Meanwhile, in an interview with Rossiya 1 TV channel broadcast, Novak said, “I want to underline that we in Russia have record high gas consumption figures this year, which is also due to active economic recovery”.

Apart from that, Russia, gas production of which has already been hovering at record levels, had told earlier that it would have to fill up its own gas storage before perking up suppliers in European spot markets. However, Moscow had been working out a plan to finish filling up its own gas storages by end-October.

As of last Friday, European underground facilities had fallen short of around 25 billion cubic metres of natgas compared to requirements across the 26-member bloc.