Home Gas effect UPDATE 1-Russian Gazprom ready to increase gas sales in Europe

UPDATE 1-Russian Gazprom ready to increase gas sales in Europe

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MOSCOW, Sept. 26 (Reuters) – Russian energy giant Gazprom stands ready to increase Europe’s natural gas supply, Interfax news agency said on Sunday citing a Kremlin spokesman as background soaring gas prices.

Dmitry Peskov also said, according to the news agency, that Gazprom was interested in more gas supply contracts.

He was talking about the low level of gas stored across Europe.

“Is it possible to get more gas from Gazprom and pump it there? It is possible. Gazprom is ready. Moreover, it has already covered all the additional (supply) demands”, a- he declared.

Russian gas giant Gazprom has been accused by the International Energy Agency (IEA) and some European Parliament lawmakers of not doing enough to increase its natural gas supplies to Europe, where gas prices have soared.

Peskov reiterated that Gazprom complies with all gas supply obligations.

“Is Gazprom ready for more, to sign more contracts? Gazprom is interested in it. It is because our consumers in Europe are our main partners,” he said.

European benchmark gas prices have risen by more than 250% this year, leading to higher electricity prices and a ripple effect on industries dependent on gas for their production, such as fertilizer factories. (Reporting by Vladimir Soldatkin; Editing by Toby Chopra, Kirsten Donovan)