Norway may increase gas supplies to Europe due to soaring prices

The Norwegian company Equinor announced that from October 1 it would increase the volume of natural gas exports to the continent due to a sharp rise in gas prices in Europe, Voice of America reports.

Equinor is the second-largest gas supplier to Europe after Russia's Gazprom.

“Equinor and partners have received permission to increase gas exports from the Norwegian continental shelf,” the company said, pointing to “unusual” conditions in the European gas market as winter approaches.

The report says an increase of 2 billion cubic meters, which, according to Reuters estimates, means an increase in exports from Norway by 2%.

France, Italy and other countries on the continent have announced additional subsidies to protect the population and to help industries.

The British government announced possible loans to support companies that came under pressure.

Ukraine claims that Russia is interested in the shortage of gas in Europe to obtain quick permission for the launch of the recently built Nord Stream 2.

“Ukraine is constantly offering additional transit capacities to supply additional volumes of gas to the EU. However, Gazprom, unfortunately, constantly refuses them," Head of GTSOU Serhii Makohon said.

European Union energy ministers will gather this week to discuss actions in response to rising gas prices.

The Spanish government has called on the EU to work on centralized gas purchases to counterbalance sellers' influence as well as build strategic fuel stocks.

To recap, the senior adviser on energy security of the US State Department Amos Hochstein says that Europe is at risk of being left without gas this winter.

As reported, Gazprom did not book additional capacity through Ukraine for October.

Tags: Gazprom, Naftogaz, Nord Stream 2, The European Commission, UGSF, heating season, Ukraine, pipeline, price, gas supplies, Makohon, OGTSU, natural gas, Europe

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