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Gazprom: The accusations are strange

"It is strange for us to hear accusations that we are causing gas prices to rise in Europe," said Elena Burmistrova, Head of Gazprom Export.

Gazprom: The accusations are strange

Burmistrova, who attended the Flame energy and natural gas conference held in Amsterdam online, stated that Gazprom has increased its gas exports to its European customers.

Noting that Gazprom wants to see the European market as balanced and predictable, Burmistrova said, "In this context, it is strange for us to hear accusations that Gazprom's actions cause gas prices to rise in Europe."

Emphasizing that Gazprom is not interested in low or record natural gas prices, Burmistrova said: "Record gas prices lead to a decrease in gas demand in Europe, which clearly contradicts our interests as producers and suppliers." he said.

Burmistrova pointed out that since the beginning of the year, the EU's own gas production has fallen by 10 billion cubic meters and the supply of LNG to the European market has decreased sharply.

Natural gas prices in Europe have increased sharply in the last 3-4 months. On October 6, futures traded at a historic high of $1937.

Experts say that low storage capacity, limited supply from Russia and high LNG demand in Asia are driving up natural gas prices.

On October 27, Russian President Vladimir Putin instructed Gazprom to increase the amount of fuel pumped into underground storage facilities in Europe. Then gas prices in Europe began to fall.

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