A speech by Russian President Vladimir Putin led to a drop in gas prices. This was reported on October 7 in the Financial Times.
“Market gas prices turned sharply lower on Wednesday after Russian President Vladimir Putin said his country was ready to stabilize skyrocketing global energy prices, which threaten to curb industrial activity and sharply raise inflation,” the article said.
The article notes that the UK is suffering more than others from rising gas prices. In calm weather, the share of renewable energy sources in the energy balance of this country decreases.
A day earlier, at the opening of trading, the historical maximum price for European gas was $ 1900 per 1,000 cubic meters. m. Later, the cost decreased by $ 600.
Also on Wednesday, October 6, during a meeting on the state of the global energy market, the Russian leader pointed out the difficult situation in the European energy market. According to him, “harsh rash actions” led to a serious imbalance.
Russian Deputy Prime Minister Alexander Novak, analyzing the situation in Europe, said that Nord Stream 2 could help the European market to stabilize. During the meeting, he noted speculative factors and poor forecasting as the reasons for the rise in gas prices in Europe.
Putin, in turn, said that gas supply on the St. Petersburg stock exchange could be increased, but not through spot trading in Europe. He noted that the speculative agiotage of Russia is not needed. The head of state urged to think about a possible increase in supply on the market, but to do it carefully.