Business & Economy

Gas shortage causes large gaps

The European Commissioner for the Economy, Paolo Gentiloni, revealed that the European Union expects Russia to abide by gas supply contracts and that it (the European Union) is ready to respond otherwise, as the proposal to impose a ceiling on gas prices “may develop”.

Gentiloni said we expect Putin to honor existing contracts, but even if he doesn’t, the EU is ready, as the European Commission has been working in recent months to increase stockpiled quantities and coordinate energy savings between different countries.

Gentiloni also announced on the sidelines of an economic meeting in the city of Cernobbio on Lake Como a change in the position of European countries regarding the imposition of a ceiling on the prices of Russian gas supplies.

Kanna Gentiloni added: “The wall that divides the views of different countries is beginning to show some gaps, so the European Commission’s proposal can move forward, and in the end it will really be a major breakthrough.”

“I consider it important that the President of the European Commission and the finance ministers of the Group of Seven simultaneously take political decisions that must now be implemented from a legislative and operational point of view regarding the gas price ceiling and the oil price ceiling,” Gentiloni added.

Yesterday, Friday, the Russian company Gazprom published a statement, revealing that there are malfunctions in the pumping turbine of the “North Stream 1” gas pipeline, and the need for Siemens to repair it as soon as possible.

“During routine maintenance work on the Trent 60 gas pumping unit (GBA No. 24) of KC Portovaya, carried out jointly with representatives of Siemens, an oil leak with a mixture of Sealant compound in terminal communication connectors of cable lines of low and medium pressure rotor speed sensors

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