Russian President Vladimir Putin stressed in his speech at the Russian Energy Week forum, that the rise in gas prices in Europe was the result of a lack of electricity and not the other way around.
Putin’s speech came during his personal participation in the forum currently being held in the Russian capital, Moscow.
Putin reflected that the rise in energy prices may have negative consequences for everyone, explaining that Russia seeks to acquire 20% of the global liquefied natural gas market by 2035.
Putin said that for any market, stability and predictability were crucial. “And Russia flawlessly fulfills its contractual obligations to our partners, including our partners in Europe. We ensure guaranteed, uninterrupted gas deliveries to Europe,” he said.
Putin said state-controlled Gazprom could earn more if it sold gas at spot prices, but as a producer, “it is interested in stability. This allows them to shape their investment policy.”
Putin added that Russia will strive to achieve carbon neutrality no later than 2060
The international forum Russian Energy Week kicked off on Wednesday, in Moscow, amid active international participation. The forum is important because Russia is one of the most prominent participants in the global energy market.
The forum will continue from 13 to 15 October and is held in the Central Exhibition Hall in the Russian capital.