“We will freeze you now, and you tell me, do you need these windmills?” – Mikhail Krutikhin on Russia’s role in falling gas prices in Europe

All these prices are determined by speculation in the financial market where futures contracts, options, and so on are traded. Gas is not traded there. Two days ago, a gas exchange was opened in Germany. And on this exchange, only 20% of companies that buy gas, and the remaining 80% are financial organizations that speculate with paper. A big game is going on, where there can be upward jerks, downward falls, and anything that does not depend on the real balance of supply and demand. Here’s a simple explanation of what’s going on in the market right now.

Gazprom was directly involved in this. To play this way on the market, you need news agencies to feed the public with some kind of panic messages. Gazprom has recently become the main source of these panic messages. “Look, Europe is freezing.” Gazprom refused to pump gas into underground storage facilities in Europe. ” Gazprom refused to supply additional volumes of gas and conclude contracts in addition to the old ones. Gazprom brought these negative news for these speculators every day, inflating prices even higher.

For example, at a certain moment, some business agency reports some panic news, which may not even correspond to reality, and something positive is hushed up. A game is underway with these agencies. See how UK futures prices have skyrocketed as UK underground gas storage facilities are 101% full. Everyone reports that the British, Scots, Welsh – everyone will freeze, but no one reports that the storage is 101% full. This is a panic attack on the market to inflate prices. This bubble must burst sometime.

There is a gas war going on now. The Russian leadership sees that Europe seriously intends to accelerate the phase-out of natural gas. This does not suit Russia and the Russian leadership at all. If we discard all sorts of bows, then the picture can be presented as follows – Russia says: “We will freeze you now, not allowing gas to survive the winter, and then you will tell me if you need these windmills or will you still come and ask Russia for normal natural gas? ” This is the offensive going on. And while the Europeans are resisting. All the statements that are being made there – let’s accelerate renewable energy sources and their development. The sun, wind, hydrogen or something else, but not fossil fuels. You can call it a war. How much will Russia manage to freeze the Europeans so that those nerves do not have enough to resist and quickly develop some other sources of energy? We must now watch and see what happens, but the war is going on. This is war.