With plans to increase gas supplies, will Russia end the energy crisis in Europe?
Ahmad Shawqi
The Executive Director of the International Energy Agency , Fatih Birol, considered Russia's announcement of plans to increase the quantities of natural gas in European storage facilities as encouraging, in a move that may reduce Europe's suffering from the energy crisis this winter.
Birol's praise comes after Russian President Vladimir Putin, in a televised meeting on Wednesday, asked Russia's Gazprom to start filling its European gas storage facilities next month.
And reached gas prices in Europe and other places to record levels in recent weeks, driven by low stocks and strong recovery in demand with economies out of the corona virus crisis.
Increase supplies
Gazprom is scheduled to start increasing the supply of natural gas at the company's storage facilities in Austria and Germany from November 8, when the local storage sites are full.
The Russian president stressed that this timetable will enable Gazprom to fulfill its contractual obligations to supply gas to European partners in the fall and winter, noting that this step will improve conditions in the European energy market, according to Bloomberg Agency.
Russia , which supplies Europe with about 40% of gas imports, has been subjected to severe accusations of exacerbating the energy crisis, wanting to press for approvals to operate the Nord Stream 2 gas pipeline , accusations denied by Moscow.
Russia will have to pump more gas than usual into its storage sites after last year's frigid winter, which sent stocks in Europe down to their lowest level in a decade.
the end of the crisis
According to a recent report by research firm Wood Mackenzie, gas stocks are likely to rise to 29 billion cubic meters in Europe by the end of next March, assuming that Russia's exports have reached their maximum capacity.
Although it will be less than the 5-year average, Wood Mackenzie expects that supplies will be sufficient in a normal winter, but that a colder winter will increase pressures on Europe.
In a report - last month - on gas market developments, the International Energy Agency indicated that it is known that Russia has fulfilled its long-term contracts with its European counterparts, but its exports to Europe have fallen below their level in 2019.
In this report, the Energy Agency stressed that Russia can do more to increase the availability of gas in Europe and ensure that storage is filled to appropriate levels in preparation for the winter season, noting that this represents an opportunity for Russia to confirm its worth as a reliable supplier to the European market.
From now on, the European gas market may face more stress tests, as a result of the unplanned
supply shortage, especially if it occurs in the late winter, according to the report.
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