Russia’s Gazprom Says If Europe Imposes Price Caps, Gas Supply Will Stop


Russian energy giant Gazprom has said that if Europe imposes price caps, gas supplies will be stopped, according to reports by Sputnik News.

Alexey Miller, director of Russian energy giant Gazprom, has said that the imposition of maximum prices on Russian gas can be considered a violation of contractual agreements and lead to the termination of supplies. The statement was made when Alexey Miller was speaking to Rossiya 1, a Russian broadcaster.

“We are guided by the contracts that have been signed. Of course, such a unilateral decision is a violation of the essential terms of the contract, which implies the termination of supplies,” Alexey Miller told Rossiya 1. Price caps against Russia energy were introduced on October 7 by the European Union. It proposes a coordinated price cap for Russian energy, with two separate implementation deadlines. The crude oil price cap is supposed to take effect on December 5 and the refined oil product price cap is supposed to take effect on February 5.

Countries like Hungary have been granted an exception.

Some European Union countries, such as Hungary, have been granted an exception as they import Russian oil through pipelines. The energy ministers of 15 member countries of the European Union sent a separate proposal to the European Commission proposing a price limit for imports of all gas into Europe, regardless of its origin, to control the increase in energy prices. Energy. Meanwhile, the Gazprom chief added that gas destined for Nord Stream may be redirected to central Turkey.

“You know, nothing is impossible. We are talking about those volumes that we have lost thanks to acts of international terrorism against the Nord Stream pipelines, so they may be significant volumes,” Miller said, when asked if Gazprom can divert the supplies. which were originally destined for the Nord Stream to central Turkey. “I would like to remind you that we have the experience of preparing for the implementation of the South Stream project, which was originally planned to have a capacity of 63 billion cubic meters per year. Therefore, if we are even talking about the technical documentation for the development of the route, for South Stream, all this was already done in a moment,” added the head of Gazprom.


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