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Germany has found a way to reduce gas prices in Europe

Economy NewsGermany has found a way to reduce gas prices...

The head of the Bundestag’s Committee on Economy and Energy, Klaus Ernst, has found a way to reduce the price of gas in Europe. As he said in an interview with TASS, the earliest launch of Nord Stream-2 will be able to stabilize energy prices.

The politician noted that the increase in gas prices in the European Union (EU) is caused by various factors. The rise in prices was influenced by a reduction in gas supplies to Europe and an increase in Asian countries. Klaus Ernst also said that after an unusually long heating period in the winter of 2020, gas storage facilities in the EU were emptied. “In addition, the tax on CO2 emissions leads to higher gas prices, and overall demand after the Coronavirus crisis in the world economic recovery has increased again,” – said the politician.

According to the head of the committee, the increase in the price of gas is not related to the actions of Gazprom. This was stated by the German government. Klaus Ernst stressed that the Russian energy supplier has fulfilled all its obligations under the contracts. The European Commission agrees with the policy. Earlier in October, the EU executive issued a statement stating that Gazprom had fulfilled all contractual obligations.

At the same time, the European Commission still links the rise in prices with the actions of the Russian company. According to the report, Gazprom did not offer any additional supplies beyond the agreements to alleviate the situation on the European energy market. According to the report, gas supplies from Russia to Europe were lower than expected.

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