The gas shortage in Europe that led to a sharp rise in spot prices for "blue flame gas" in the markets is entirely Gazprom's fault, Sergiy Makogon, the Head of the Gas Transmission System Operator of Ukraine, said to the Financial Times. According to him, the Russian gas monopolist is using a policy of blackmail and extortion, reducing the gas transit through Ukraine.
Makogon recalled that Gazprom categorically refused to purchase additional capacity to deliver gas to Europe at a time when gas prices rose to a 13-year high. The Ukrainian official urged Europe not to succumb to Russia's gas blackmail—despite the fact that gas supplies in 2021 will decrease by about 20%.
"This is an artificial problem," Makogon added, referring to the shortage in the gas market.
Context. Gas prices in Europe have been steadily kiting every day. The reason was a whole set of factors—very hot weather, empty gas storage facilities of European countries after the winter, but most importantly—the changed policy of Gazprom. The monopolist renounced the "satisfy demand at any cost" concept and sharply reduced gas supplies to Europe by 20%. On the evening of June 30, gas was traded at a record price of $465 per thousand cubic meters—something that has not happened since 2008.
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