[ad_1]
The head of the International Energy Agency has criticized Russia for transporting gas to Europe during a “global crisis” meaning Moscow has sparked a major political crisis.
Fatih Birol said in a statement on Wednesday that the IEA, which represents a number of oil-producing countries, believes Russia is blocking one-third of its gas exports to Europe, while destroying Russian-controlled warehouses on the continent to boost the protests.
“We believe there is a strong trend in the European oil market because of the Russian system,” Birol said. “I would realize that today the Russian gas downturn in Europe is in line with the tensions that have developed between the Ukrainian states.”
Birol added, “Russia could increase its exports to Europe by one-third – this is the key message.”
Birol’s comments highlight Russia’s role in the electricity crisis here and come as households in the UK and Europe are eager to raise their bills sharply after rising gas and electricity prices.
Russia has been adamant about keeping all of its long-term gas supply agreements in Europe but has been accused by policymakers and analysts of not using resources since last year to curb existing trade.
Gazprom, a Russian state-owned gas company, wants to get a permit to install the Nord Stream 2 pipeline to Germany, which was designed as another route to Ukraine.
Russia has deployed 100,000 troops near the Ukrainian border as Moscow holds talks with the United States over European security. He is expected to vote in the US Senate this week on legislation seeking to impose sanctions on Nord Stream 2.
Birol said European countries, including the UK, need to prepare for the future crisis by finding more gas reserves to reduce any country’s market forces in times of crisis.
He cited Gazprom’s role in reducing the amount of gas stored in controlled areas within the EU.
“In terms of storage, the recent decline in EU storage is mainly due to Gazprom,” Birol said, pointing out that storage is about 50 percent of energy compared to 70 percent in January.
“Decreased stockpiles in EU companies account for half of the EU’s depletion even though Gazprom’s reserves only take up 10 percent of the EU’s total storage capacity,” he added.
[ad_2]
Source link
