EU official says Russia fulfils long-term gas contracts

BRUSSELS, Oct 6 (PRIME) -- Long-term contracts for gas supplies from Russia to the E.U. are being fulfilled, no extra capacities have been booked despite rising gas prices, European Commissioner for Energy Kadri Simson said at a plenary session of the European Parliament on Wednesday.

“Long-term gas contracts from Russia are fulfilled, but additional capacities have not been booked despite rising prices,” Simson said.

Gas prices in Europe are expected to remain high until the spring of 2022, Simson said.

“Market expectations indicate that gas prices will remain high during the winter and should gradually decrease starting next spring based on the current demand forecast,” she said.

At the same time, Europe has enough gas to cover demand in the coming winter, Simson also said.

“Underground gas storage facilities in Europe are about 75% full. This level is lower than the average for the last ten years, but it is enough to cover the needs of the winter season,” Simson said.

The European Commission plans to present a project on a gas market reform until the end of 2021, Simson said.

“By the end of the year, I will present a gas market reform, in the context of which issues related to storage and security of supplies will be reviewed,” Simson said.

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