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Russia ready to boost production and supplies of gas to meet demand in EU — deputy PM

Alexander Novak mentions that the increase of production is complicated by the EU policy sought to reduce the demand

MOSCOW, December 29. / TASS /. Russia is ready to increase the volumes of gas production and supplies in any amount to meet the demand in Europe, but this requires long-term contacts, Deputy Prime Minister Alexander Novak told the RBC media outlet on Wednesday.

"In physical terms, we are ready to increase production and supply volumes. Russia’s resources make it possible to meet the demand of European consumers in any amount. But, of course, this is not a quick process, since the EU policy sought to reduce the demand. Gazprom needs long-term contracts, as the growth in production requires large investments, which should pay off over the longer term," the deputy prime minister noted.

Novak also mentioned that Russia was blamed for not supplying additional gas volumes to Europe. "Make long-term contracts, and we will be ready to supply more. This offer is always open," the Russian senior official said.

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Oil & Gas Alexander Novak

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