Deputy Prime Minister Novak said that Russia is willing to sell more natural gas to Europe but that no demand has yet been received from Europen Countries.

Gas prices in Europe fell 8 percent on Monday to 86.2 euros per megawatt-hour, on expectations of greater supply from Russia. Expectations that the weather will be warm for Europe were also effective in the decline in prices. In a research report they prepared, Goldman Sachs analysts said that they are closely following Gazprom’s capacity usage permits on the Yamal pipeline, which may be a catalyst for European gas prices in the near future. Analysts also emphasized that there may be a rapid decline with the return of gas from Russia to its ordinary course.

Russian Deputy Prime Minister Alexander Novak stated that Russia is willing to sell more natural gas to Europe, but there has been no demand from European Union countries yet.

Emphasizing that Russia saw record levels in natural gas consumption this year with the economic recovery, Novak said that they are still ready for extra sales to solve the energy crisis in Europe.

Novak also stated that Russia had fulfilled all its contractual obligations this year, increasing its natural gas sales to global markets by 15 percent compared to 2020.

Putin: We are Ready to Supply Europe With the Gas It Needs

Russian President Vladimir Putin stated that his country is ready to supply the natural gas that Europe needs. Despite this, Putin said that Europe’s current energy crisis was caused by problematic policies rather than a lack of supplies.

Stating that they could discuss any further steps as Europe’s largest gas supplier, Putin criticized Europe’s energy system’s “systematic flaws” and “looking elsewhere to blame when things don’t go well.”

Although Gazprom PJSC has met the terms of its long-term contracts, Russia’s supply of less than expected gas has been cited as a factor in the European energy crisis.

Putin stated that European customers made a mistake by turning to supply from the short-term market in order to compensate for their gas storage deficiencies.