Russian President Vladimir Putin asked Miller, the head of the company, on October 27 to formulate a plan to increase the gas supply of European UGS facilities in Austria and Germany by November 7 or 8. After the completion of the Russian UGS facility, the European storage facility began to be supplemented.
Europe has been facing an energy crisis since the end of summer due to record price increases in natural gas and insufficient utilization of its own storage facilities.
The increase in natural gas prices in the European spot market started at the end of August and continued until early October. On October 6, the November TTF futures price on the ICE Exchange in London in a natural gas center in the Netherlands exceeded US$1.9 million per 1,000 cubic meters, a record high.
Source: iz.ru
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