Russia's Gazprom Company Starts Pumping More Gas To Europe

On Tuesday, Russia's Gazprom company began pumping gas to five European underground storages via the Nord Stream 2 gas pipeline so as to ease concerns about gas shortages before winter.

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"We have to cooperate more with the European Union (EU) amid the ongoing continental energy crisis, which has seen gas prices soar to US$1,500 per thousand cubic meters,” President Vladimir Putin stated.

In the face of growing European demand for gas, which reaches almost 70 billion cubic meters, the Putin administration set up the first line of the Nord Stream 2 pipeline at the bottom of the Baltic Sea to transport more Russian gas to Germany.

“This 750-mile pipeline will allow us to increase gas supplies to Europe by over 55 million cubic meters," Putin assured, stressing that this opportunity will prevent thousands of European families from going into bankruptcy by stabilizing the market.

"Despite the benefits that this initiative can bring to the continent, the European Commission hampered several times the construction and operation of Nord Stream 2 before the crisis," Putin condemned and rejected the accusations of some Western countries, which blamed Russia for the current European crisis.

The Gazprom Company impeccably fulfills its contracts with European partners. Amid the crisis, it increased gas supplies by 15 percent and liquefied natural gas (LNG) deliveries by 13 percent this year, Putin insisted.

“The energy crisis is rather due to capitalism's unsustainable economy and the EU regulations, which limit the participation of any company in the energy market and facilitate short-term transactions instead of long-term contracts,” he concluded.