Gazprom

Natural gas in Europe has fallen to 70 euros per megawatt-hour, approaching levels not seen in the last two months. This is happening against the background of increasing flows of liquefied natural gas, higher wind energy production, and increasing use of gas from storage facilities in Germany.

Romania's government on Wednesday approved a 100-million-euros financial support package for Moldova to help it deal with a looming energy crisis.

Romania's financial assistance comes at a difficult time for its neighbour, after Russian energy giant Gazprom warned it would stop supplying gas to Moldova if its Moldovagaz subsidiary does not pay outstanding debts within two days.

In the shadow of the energy crisis in Europe but also of the frosty EU- Russia relations, because of Nord Stream 2, Athens and Moscow are in negotiations for the gas supply contract between Gazprom and DEPA Commercial.

Gazprom increased its gas exports to Bulgaria by 43.8%.

The company's deliveries to foreign countries have increased to 171.5 billion cubic meters, which is 6.6% (10.6 billion cubic meters) more than in the same period in 2020.

Serbia will continue to pay $270 per 1,000 cubic metres of natural gas for the next six months, President Aleksandar Vucic said after a meeting with Russian President Vladimir Putin.

The two presidents met in Sochi, Russia, where the renewal of a deal about natural gas deliveries was one of their topics. Vucic said: "Putin has shown friendship towards Serbia."

Gas Games

Serbian president Aleksandar Vucic (left) during meeting with Russian president Vladimir Putin (right) at the Kremlin, in Moscow, Russia, June 2020. Photo: EPA-EFE/ALEXEI NIKOLSKY/SPUTNIK /KREMLIN POOL MANDATORY CREDIT

Work on the Nord Stream 2 pipeline was completed in September, but no gas will flow through it in the coming months. Germany stopped the procedure for its certification and as soon as it became known, energy prices increased by 18%. As Le Monde predicts, gas and electricity prices will remain high in the near future.

Moldova's Deputy Prime Minister Andrei Spinu announced on Wednesday that the government is preparing several mechanisms to compensate people on modest incomes as consumers anxiously await their next gas bills to see how increased prices for gas supplies will affect them.

Moldovan President Maia Sandu told media on Monday that the country's gas crisis "ended when a contract was signed between MoldovaGaz and Gazprom", although experts in Chisinau expressed concerns about the way the deal was done.

Prime Minister Natalia Gavrilita said on Tuesday that Moldova is currently engaged in intensive negotiations with Russian state company Gazprom on extending its gas supply contract, but is looking at several gas supply possibilities in other European countries as well.