admin October 11, 2021

EU High Representative for Foreign Affairs and Security Policy Josep Borrell said that Europe will likely need more Russian gas than has been agreed. He expressed this opinion in an interview with the Spanish newspaper El Pais published on Monday, APA reports.

“We still need Russian gas, and we will probably need more than [what is in] the contract,” he said.

He recalled that Spain suggested that Brussels should hold negotiations on gas purchases on behalf of the member states of the EU, instead of every country doing it by itself.

On October 6, the price of gas in Europe set a new all-time high, exceeding $1,900 per 1,000 cubic meters. However, during the day, it dropped below $1,450 per 1,000 cubic meters and on October 7, continued to decline below $1,000 per 1,000 cubic meters.

Earlier, Gazprom CEO Alexei Miller noted that the record price surge was in particular caused by a significant lag in pumping gas into underground storage facilities in Europe and growing demand for gas there. He added that in the future gas price may soar even higher breaking new records.

Source: Azeri-Press News Agency