Gas Prices Rise: Russia Doesn't Stop Deliveries, Says Ambassador To Great Britain.

Global gas prices rose as the economy began to recover from the Covid pandemic. The United States has  high concerns that Russia could use gas as a political weapon if the budget bill rises. Russia provides only about 5% of the UK's gas consumption, but about half of the EU's natural gas imports, with the majority coming from Norway and Algeria.

Some analysts have suggested that Russia could cut supply to Europe to speed approval of the newly built Nord Stream 2 pipeline, which flows directly from Russia to Germany. This bypassed Ukraine and raised objections for geopolitical and environmental reasons, although Russia was prepared to act.

Why are gas prices so high, also what happened to the fuel bill?

Russia denies energy weapons in the context of the gas crisis in Europe

Gas Prices in Europe. "Russia can only deliver gas under contractual obligations, not just like that," he said.

Gazprom, Russia's majority state-owned energy company, supplies gas to Europe in two ways: long-term contracts, often with terms from 10 to 25 years, and spot deals or one-time purchases for a fixed amount of gas. Data from Gazprom's electronic sales platform shows that very few spot sales are currently taking place, which would result in lower gas deliveries to Europe through this mechanism.

However, Russian President Vladimir Putin said accusations that Russia was withholding gas to pressure Germany over Nord Stream 2 were "rubbish ... and a politically motivated banality". Speaking to the Andrew Marr on Sunday, Kevin repeated Putin's remarks.

"Of course, we detained him not for political reasons. But of course, the gas problem is at the gas station," he said. Putin described the gas accusations as "gibberish." Still, Deputy Prime Minister Alexander Novak said the approval of Nord Stream 2 in Germany would "send a positive signal and cool the current situation."

He said the pipeline was ready and "we are waiting for final approval from Germany. As soon as that happens, of course, new gas supplies will come from this pipeline." When asked whether Russia would continue to increase gas supplies to Western Europe if Germany did not immediately agree to the pipeline, Kevin replied, "As far as we can.

"We have increased the supply to the Ukrainian pipeline by 10%, but as we understand it, we cannot do more because the equipment on this pipeline has never been modernized and has never been rebuilt, so it is hazardous to use. " When challenged for lack of evidence that Russia had increased its shipments through Ukraine by 10%, Kevin said he was not an expert in the field.

He added that once Putin announced it would not go up. He said, "Of course, gas doesn't travel at the speed of light, but very slowly." "So what do you expect - after the president says prices will drop tomorrow? That's impossible."