Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Russia says Gazprom has begun using gas stockpiles to stabilise market

    Russia says Gazprom has begun using gas stockpiles to stabilise market

    October 13, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp

    Moscow — Russian energy giant Gazprom has started using its inventories to pump more natural gas into the pipeline network to stabilise surging prices, a Russian official said on Tuesday.

    Deputy Foreign Minister Sergei Ryabkov, in a BBC interview, rejected any suggestion that Russia was withholding gas from the European market, where electricity and gas prices have rocketed this year as tight gas supplies have collided with strong demand in economies recovering from the COVID-19 pandemic.

    “We favour energy security of Europe; we want to work collaboratively … Gazprom has in fact started pumping out from its reserves into the pipelines to stabilise the market,” Ryabkov told the BBC’s Hard Talk programme without elaborating.

    Interfax news agency, citing data from Gas Infrastructure Europe, has said that Gazprom pumped gas from a storage facility at Haidach in Austria for one day on Oct. 7 after a spike in gas prices to a record high.

    “We work deliberately, quietly, soberly towards stabilisation. It’s not in our interest to rock the boat further,” Ryabkov said.

    A group of European Parliament lawmakers has asked the European Commission to investigate Gazprom’s role in the rising prices, saying its behaviour has made them suspect market manipulation and an “effort to pressure” Europe to agree a fast launch of the Nord Stream 2 gas pipeline between Russia and Germany.

    Both Gazprom and the Kremlin have dismissed the accusations.

    “We would prefer to have here a bear market. Russia is about bears now, it’s not about bullies,” Ryabkov said.

    • Reuters (Reporting by Mark Trevelyan; Writing by Vladimir Soldatkin; Editing by David Goodman)
    • Follow us on twitter

    Related News

    Tariff crisis stalls Nigeria’s gas-to-power expansion

    Edun meets downstream leaders to deepen energy reforms & drive investment in CNG

    LNG freight rates hit 8-mth top on tight tanker availability, Mideast conflict

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Stakeholders raise alarm over dangers of marine debris

    June 27, 2025

    NCDMB pledges oil industry support for Yikodeen safety footwear

    June 27, 2025

    BPSR applauds NIMASA for championing public service reforms

    June 27, 2025

    NCDMB commends Heritage Energy on NOGICD Act implementation, reiterates commitment to HCD

    June 27, 2025

    Oyetola, NIMASA pledge zero tolerance for harassment at sea 

    June 27, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.