Russia is not using gas as a weapon, says Putin

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Vladimir Putin has said Russia is not using gas as a “weapon” and insisted it is ready to help Europe amid its energy crisis.

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The Russian president made the remarks after the European Union called an emergency summit to help deal with skyrocketing prices.

The International Energy Agency (IEA) is set to triple investment in renewable energy in stable markets and fight climate change on Wednesday, Reuters news agency reported.

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Europe’s gas crisis has exposed the fact that Russia accounts for a third of the region’s supply, prompting European politicians to blame Moscow for not pumping enough.

But Putin told an energy conference in Moscow that the gas market, especially in Europe, was not balanced or predictable.

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He also claimed that Russia was meeting its contractual obligations to supply to customers and was ready to boost supplies when asked by European leaders.

Putin said: “This is just politically motivated nonsense, which has no basis.”

As economies recover from the COVID pandemic, energy demand has increased and oil, gas and coal prices have seen significant increases.

At the same time, there has been a dispute between Russia and Europe over Nord Stream 2, a new pipeline to supply Russian gas to Germany.

The pipeline has been built but approval to begin pumping is awaited, amid opposition from the US and some European countries who fear it will make Europe even more dependent on Russia.

Some European politicians say Moscow is using the fuel crisis as leverage, something the Kremlin has repeatedly denied.

The European Commission on Wednesday outlined the measures the 27-nation EU will take to tackle the energy crisis, including exploring joint gas purchases.

An extraordinary meeting is due to be held in the EU countries on 26 October to discuss price hikes.

“The only way to completely separate gas from electricity is not to use it to generate electricity,” said EU energy policy chief Kadri Simson.

“This is the EU’s long-term goal, to replace fossil fuels with renewable energy.”

The Paris-based IEA said the world would need to invest $4 trillion (£2.9 trillion) in clean energy and infrastructure by 2030 – three times the current levels – to achieve net-zero emissions and reduce global warming to 1.5C by 2050 limiting target. 2015 Paris climate agreement

“The world is not investing enough to meet its future energy needs,” said a report published ahead of the UN Cop26 climate change conference in Glasgow, which begins on 31 October.

Additional reporting by Reuters

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Credit: www.independent.co.uk /

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