Wednesday, October 20, 2021

Russia Has Been "Turning Down the Gas" on Europe Since August, Now Look Where Europe Is...And Where North America Coukd Be Also For the Winter

 "...As surging fuel costs have caused increasing economic havoc, pressure has grown on Russia, Europe’s largest supplier, to pump more. Extra Russian gas is seen as the main way to avoid an even deeper supply crunch in the middle of the winter.

But with relations with Europe in the deep freeze after years of sanctions and other tensions, there’s no appetite in the Kremlin to do any favors. Although exports to Europe are up this year from last year’s depressed levels, they lag those seen in 2019, according to the Oxford Institute for Energy Studies. Daily flows have dropped in October and Gazprom has been slow to refill storage facilities it owns in Europe, adding to upward pressure on prices. Russia has blamed an overly hasty shift to relying on spot markets and alternative energy sources for the crisis..."

http://www.bnnbloomberg.ca/russia-signals-europe-won-t-get-extra-gas-without-nord-stream-2-1.1668341

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