The main reason for the rise in the cost of gas in European markets is that in Asia the price of blue fuel is even higher, as China is increasing the volume of gas consumption and imports, Igor Yushkov, an energy expert at the Financial University under the Government of the Russian Federation, explained in an interview with Ukraine.ru.
Earlier, Amos Hochstein, senior adviser to the US State Department for energy security, said that Gazprom should increase the volume of gas supplies to Europe through the Ukrainian territory.
Yushkov noted that liquefied natural gas (LNG) creates a so-called price arbitrage: the LNG supplier has the opportunity to choose where to send gas – to Asia or Europe. And he sends LNG to Asia, because they will give more money there. The expert added that it was for this reason that absolutely all LNG went from Europe to Asia, which provoked a sharp jump in the cost of blue fuel.
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“How Nord Stream-2 led to an increase in gas prices in Europe is completely incomprehensible – it has not even been launched yet and has not pumped a single cubic meter of gas. It would be fine if it worked, and then it was blocked. But it will only be put into operation. How could he influence the growth of gas prices in Europe?” the expert emphasized.