European Commission Says Russia Isn’t Manipulating the Gas Market

Russia fully complies with long-term contracts for gas supplies to the EU and does not manipulate prices on the EU gas market, Deputy Head of the European Commission (EC) Frans Timmermans said, commenting on the gas crisis in Europe.

“Russia is fulfilling its gas supply contracts, we have no reason to believe that it is putting pressure on the gas market and manipulating it,” an EU official said in an interview with bTV.

Timmermans pointed to the huge demand in the global gas market.

“There are problems in China, and Russia is trying to deliver the maximum amount of gas, including there. But there is no reason to believe that Russia is manipulating the gas market,” said the deputy head of the European Commission.

Russia has named its version of the crisis, claiming that among the mistakes of the EU that led to the crisis and the jump in gas prices are the rapid transition from traditional fuel to “green” generation (wind turbines, solar energy), the choice in favor of exchange (spot) gas trading to the detriment of long-term contracts, and neglect of filling storage facilities.