EU High Representative for Foreign Affairs and Security Policy Josep BorrellBRUSSELS, Feb 6If energy prices in the European Union remain high in 2022, this will have a tangible impact on the economic recovery from the crisis caused by the coronavirus pandemic, said EU diplomat Josep Borrell. will affect the (economy — ed.) recovery from the pandemic,» Borrell wrote on his blog ahead of the EU-US Energy Council meeting on Monday. .jpg» />Russia and China left the West in the minority A noticeable increase in gas prices in Europe began in the spring of last year, when the average spot price on the TTF index fluctuated in the range of $250-300 per thousand cubic meters. In the last days of summer, the cost of a contract with «one day ahead» delivery exceeded $600, and in early October it crossed the threshold of $1,000 per 1,000 cubic meters. In December, quotes have already doubled, reaching a historic high of $2,190.4. There have been no such persistently high prices in the entire history of the operation of gas hubs — since 1996 — in Europe. Gas prices in the European Union are high due to strong demand, but the geopolitical situation «does not help» them to stabilize, European Commissioner for Energy Kadri Simson said at the beginning February.
The European Commission called the condition for the launch of Nord Stream 2. Borrell wrote in his blog on Sunday that the «difficulties with gas supplies» in Europe were caused by the «crisis in relations with Russia.» At the same time, he noted that the Russian Federation strictly fulfills its contractual obligations for the supply of «blue fuel» to the EU. However, Gazprom, he said, «refused» additional supplies to replenish European storage facilities, which increased the nervous situation in the market. As President Vladimir Putin pointed out, Russia has nothing to do with the current situation — the Europeans themselves created problems with gas prices . Deputy Prime Minister Alexander Novak explained that the European Commission pursued a deliberate policy of moving away from long-term contracts to spot contracts, but such deliveries go where prices are higher and do not even provide medium-term predictability. Russia is ready to increase gas production and supplies to Europe, but Gazprom needs long-term contracts because it will require large investments, Novak noted.
