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Novak: gas prices for households in Russia are 40 times lower than in Europe

gas prices

Russia is guaranteed to be provided with heat and light in winter, as it has enough gas reserves, unlike Europe, said Deputy Prime Minister Alexander Novak. According to him, the price of gas in Russia is 40 times lower than in Europe. He also believes that Russia did not violate the terms of the contract for gas supplies through Nord Stream.

“If you compare, our thousand cubic meters of gas costs $70-80 for industrial consumers, even cheaper for the population … The difference is 40 times, and this is certainly our competitive advantage,” Novak said in an interview with journalist Pavel Zarubin. “We are guaranteed to have heat, light,” he added (quoted by RIA Novosti).

As Novak noted, Russia’s domestic gas prices are regulated by the state. “Here, for example, in recent years they are indexed by 3-5%. Even probably to a greater extent by 3%,” he said. However, the Russian deputy prime minister did not rule out further increases in exchange prices of gas in Europe. “In my opinion, it is not ruled out,” he said.

According to Alexander Novak, in the situation with Nord Stream there is no need to “shift from bad to healthy.

Now the whole problem lies on the other side, because all the conditions of the contract for the repair are violated, as well as the conditions for transportation of this equipment.

Alexander Novak
Deputy Prime Minister of Russia

Earlier today, German Chancellor Olaf Scholz said that Russia cannot be called a reliable supplier because it “no longer meets its contractual obligations for supplies.”

Novak also disagreed with the opinion that Russian gas is “dirty. “It is not dirty, it is one of the cleanest energy sources in the world,” he said. Ukrainian President Vladimir Zelensky said earlier that Russian gas is “the dirtiest in the world because of significant methane emissions during extraction and transportation, as well as because of corruption, blackmail and manipulation.”

From August 31 to September 3 “Gazprom” completely stopped the supply of “Nord Stream”. The company explained this decision by planned repair works. Against this background the price of September gas futures in Europe reached the highest level since the beginning of March and was momentarily going up to $3500 per 1 thou. cu. m.

What do you think?

Written by Medvedev


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