The growing gas crisis in Europe has put many countries in a dilemma as winter approaches. Against this background, the price of some gas reserves has risen several times since the beginning. For example, the Netherlands, the benchmark in Europe, has raised the price of wholesale gas by 30% in just a few hours. It also comes amid controversy over the opening of a new Russia-Germany gas pipeline.
EU countries, which are now feeling the cold of winter early and are frustrated everywhere, have pinned their last hopes on gas from Russia. With this move, Russia is already becoming the EU's largest gas supplier, and some claim that with the opening of the Nord Stream 2 pipeline, Europe will become heavily dependent on Russia in many ways.
Back in 2014, when the West imposed sanctions on Russia during the Crimean crisis, Russia's suspension of gas supplies from Ukraine had shocked Europe. Calls for Europe to end its dependence on Russian gas, which was blackmailed by Russia in 2014, have become louder. And certain steps have been taken in this direction. But it seems that these steps are not enough.
Today, Moscow can meet 43% of the 27-nation European Union's natural gas needs. On the other hand, the Russian side says that this figure may increase with the launch of the two Nord Stream 2 pipelines.
The problem persists, despite the fact that some forces in the United States and Europe, which have always been lukewarm to the NS2 project, claim that "Russia will one day use this dependence as a weapon." Although Gazprom was unable to ensure adequate gas transit through Ukraine to Europe, Russia is still trying to demonstrate that it will be a reliable gas supplier to Europe by focusing more on the NS2 project.
Some Western analysts believe that the Kremlin could separate the Europeans by doubling the supply of natural gas from Russia to Germany, which is vital to it. And even today, there are frictions between the European blocs and the United States. At the same time, the pipeline will inevitably result in a loss of about 1 billion euros (0.85 billion pounds) in transit value bypassing Ukraine.
Thus, Russia, which is trying to shoot two rabbits with one bullet, may feel that it has influence over Europe, but may try to use the gas supply as a means to accelerate the second phase in NS2.
The executive director of the International Energy Agency, Fatih Birol, recently made a similar statement. He noted that Russia could fight the entire European energy crisis on its own. The agency also said that Russia has the ability to increase gas supplies to Europe by 15%.
Another statement came from Serbian President Aleksandar Vucic. In a statement that irritated the Kremlin, he described Vladimir Putin as a "kingmaker" in the energy market. In response, Russian presidential spokesman Dmitry Peskov called Vucic's statement a provocative allegation.
Interestingly, German Chancellor Angela Merkel denied the allegations in favour of Russia. She said Russia was not interested in raising prices and would provide support in this area. And finally, Europe, which is trying to take refuge in Russia's warm embrace from the harshness of the cold, is showing its side by taking such an initiative.
Elnur Enveroglu
