On a chaotic day that saw European benchmark gas surge 40 percent within a few minutes, Putin eased prices by offering to help stabilize the situation. Russia could potentially export record volumes of the vital fuel to the continent this year, he said. Quick certification of the controversial Nord Stream 2 natural gas pipeline would be one way to achieve this, Russian Deputy Prime Minister Alexander Novak said. Shipping greater volumes of gas through Ukraine is “economically unprofitable for Gazprom, because it is more expensive,” Putin said. National Grid yesterday also published a gas outlook in which it said that it expects to have enough gas to meet demand this winter.

Source: Taipei Times October 07, 2021 15:56 UTC