As European Union (EU) states have been struggling with policies of a gas price cap, Russia’s president Vladimir Putin blamed Europe for the energy crisis on Wednesday at the International Forum of Russian Energy Week in Moscow. While Germany said the response of less oil there along with adequate supplies when Poland claimed to have a leak in the Druzhba pipeline.
Source: CNBC
As European Union (EU) states have been struggling with policies of a gas price cap, Russia’s president Vladimir Putin blamed Europe for the energy crisis, on Wednesday, at the International Forum of Russian Energy Week, in Moscow. Among EU states, Germany’s response to less oil is addressed by mentioning adequate supplies of gas when Poland claimed to have a leak in the Druzhba pipeline.
Vladimir Putin’s view on the Druzhba gas leak
In the International Forum of Russian Energy Week, on Wednesday, Russian President Vladimir Putin expressed that Moscow can not be blamed for a hike in the energy prices of Europe.
The Drive for green energy, backed by EU states, is prominently leading to under-investment compared to the global oil as well as gas industry. Also, the sudden caused major leaks that erupted in the Druzhba gas pipeline along with issues with Nord Stream ( I & II ) gas pipelines can be set as a “dangerous precedent”.
Putin mentioned how the attacks have been named as sabotage by European as well as Western governments. While the Druzhba gas pipeline ingrained in Almetyevsk, Russian Federation, carrying Siberia’s crude oil at the meeting point of the Caspian Sea and the Urals, the twin pipeline of Nord Stream initiated through the Baltic Sea travels from Vyborg, Russia, crossing Finland, Denmark, Sweden, and Germany, along with the territorial waters and Russia’s Economic Zones exclusively.
Druzhba Gas Pipeline (Source: The Hindu)
As per Vladimir Putin, the interruption in crude delivery might be called an accident rather than being attacked; by calling sabotage as Druzhba Gas Pipelines activates with the meaning of “friendship” in its name. Putin profoundly claimed, the crude running to be labelled an “act of international terrorism” in order to deprive consumers of cheap energy.
In Russia’s Energy Week Forum, Putin said, “We could move the lost volumes along the Nord Streams along the bottom of the Baltic Sea to the Black Sea region and thus make the main routes for the supply of our fuel, our natural gas to Europe through Turkey“. Thus, Putin incited the idea to establish an alternative gas hub for EU states via Turkey.
EU states claimed Pipeline leak an accident
As the security of supplies was at heightened risk, it created tension after the leak of Druzhba in Poland. On top of that, Poland recommended the leak to be an accident whereas, in February, EU states are seeking to stop the reliance on Russia’s energy as a response to Russia’s invasion of Ukraine. Germany’s Nord Stream link is running out of action due to last month’s leak.
In this matter, Russia along with the West have indulged in sabotage rather than identifying the cause of the action.
Druzhba Gas Pipeline in Poland ( Source: Reuters)
At the same time, the Nord Stream 2 project was frozen by Germany for Russia as they sent troops. Also, the government spokesperson of Germany addressed to rule out gas supply via the same route, on Wednesday. The countries of G7 have been solving their issues with the cap on oil prices of Russia, which was cleared by Putin with “deepening problems”.
The consequence of less Russian energy use along with supplies steep cuts can be a major 27 EU, states. The gas price hike then can be 90% higher before including rationing fears and power cuts.
Talks on International Forum of Russian Energy Week
In the meeting with energy ministers of EU states in Prague, Kadri Simson, the EU energy commissioner commented about the unsustainable oil price hike, which was even an agreement on the price cap.
On Wednesday, Energy Ministers agreed to a new proposal package in order to tackle the current crisis; leading to a declaration next week at the EU Commission. The matter of inclusion is enhancing gas price alternative benchmark along with taking further steps for reducing demand together with promoting joint purchasing.
Simson mentioned, “We will see over the weekend, how we can proceed with capping the gas for power generation – if this is at that stage that we can say that there is a broad majority of member states supporting this measure.”
Source: Pan Pacific agency
Most EU states are disagreeing with the design but are in favour of the gas price cap. Although Europe’s substantial gas market, Germany has been arguing regarding the risks of choking supplies.
In the context of the Druzhba gas leak, “Here we can talk about accidental damage,” Poland’s energy infrastructure official Mateusz Berger declared. The current energy crisis hugely affected the whole financial understanding of Europe. The businesses have been streaming with extra costs, leading to a squeeze on household budgets.
The governments are figuring out ways to fund immediate measures during this emergency period for protecting consumers by smoothing out the travelling of gas due to price hikes.
