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Demand for long-term gas contracts in Europe grows — Gazprom

Both consumers and energy producers want more predictable prices, Deputy Chairman of Gazprom Management Committee Oleg Aksyutin says

ST. PETERSBURG, September 15. /TASS/. Demand for long-term gas contracts in Europe is growing amid rising spot gas prices, Deputy Chairman of Gazprom Management Committee Oleg Aksyutin said at the St. Petersburg International Gas Forum.

"Both consumers and energy producers want more predictable prices. A paradoxical situation has developed on the market - the demand for long-term contracts is growing amid extremely volatile spot prices. End consumers, including those in Europe, want to consistently receive gas at predictable prices," he said.

However, according to him, investors and Western companies are afraid to invest in new projects. "The reason is very simple - the unpredictable policy of regulators," he said, adding that European politicians in recent years have signaled that there is "no need to develop the oil and gas industry against the backdrop of the so-called green energy transition." According to him, the EU authorities called gas a transitional fuel, declared measures to reduce gas consumption, and are now discussing the gas price cap.

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Oil & Gas Gazprom

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