Tag Archives: Gazprom

European Energy Crisis — And is That Gas You Think You’re Burning? by Tom Luongo

Like virtually all emergency shortages, the current European Energy Crisis has been created by European elites per some sort of arcane political calculations. From Tom Luongo at tomluongo.me:

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Gazprom: We’re Not Withholding Gas To Europe, by Charles Kennedy

Gazprom may or may not be withholding gas from Europe, but high prices and spot shortages before winter should seal the deal for Nordstream 2 early next year. From Charles Kennedy from oilprice.com:

Russian gas giant Gazprom dismisses speculation and accusations that it is not supplying enough natural gas via pipeline to Europe, a senior official at Gazprom Export says.

So far in 2021, Gazprom’s gas deliveries to Europe have reached historic highs, Sergey Komlev, Head of the Contract Structuring and Pricing Directorate at Gazprom Export, wrote in an article for Gazprom’s corporate magazine, as carried by Russian news agency TASS.

Germany, Turkey, and Italy—some of Gazprom’s largest customers—all boosted imports of Russian gas in the first half of 2021, the manager said.

Gazprom’s exports to European countries rose by 23.2 percent between January and July, Komlev added.

“These figures prove the absurdity of accusing Gazprom of supply shortage,” the executive noted.

Europe is grappling with soaring natural gas and electricity prices ahead of the winter heating season due to tight gas supplies, very low gas inventories, and low wind power generation amid still weather.

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Nordstream 2’s Hard Lesson in Reality for Everyone, by Tom Luongo

Germany calls the shots in Europe and its awesome industrial plant needs reasonably priced energy, which is why the Germans weren’t going to let the US stop the Nordstream 2 natural gas line. From Tom Luongo at tomluongo.me:

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Nordstream Sanctions a Sad Coda to U.S. Foreign Policy, by Tom Luongo

The US’s European satrapies are rebelling. From Tom Luongo at tomluongo.me:

The U.S. crossed the Rubicon this week. And I’m not talking about the ridiculous impeachment of President Trump for doing his job.

I’m talking about passing the NDAA with provisions to sanction ‘from hell’ anyone associated with completion of the Nordstream 2 pipeline. The U.S. is now openly dismissive as a matter of law any ally or partner who engages in economic activity it disapproves of.

We do this all the time with countries we consider rivals or who have committed ‘human rights abuses’ or contravened international laws or societal norms.

But this is about a simple commercial transaction. Yes, it has geopolitical implications, but those are secondary. No one will be harmed by Nordstream 2, The real harm is to the U.S.’s ability to bring political pressure on European countries to adopt its anti-Russian policies.

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