Experts called the condition under which Gazprom will cut off supplies to Europe

MOSCOW, Sep 2 — PRIME. If we draw analogies with the Russian position regarding the G7 initiative to introduce a price corridor for oil and oil products, Gazprom may stop gas supplies to European countries that will support price limits for it, Maria Belova, research director at Vygon Consulting, shared her opinion with RIA Novosti .

A European Commission spokesman said last week that it continues to explore ways to curb energy prices, including setting a price cap for gas from Russia.

The Vygon analyst noted that the topic of introducing a price limit periodically pops up in the speeches of European politicians, while the issue has been under study since the beginning of summer, and many companies that buy Russian gas oppose this initiative.

“If we draw analogies with the Russian position regarding the G7 initiative to introduce a price corridor for Russian oil and oil products, Gazprom will stop delivering to those EU countries that support setting a price limit for gas,” Belova said.

The expediency of introducing a price ceiling for Russian gas will be discussed again in October. “In my opinion, the heating season is not the best time for this. Demand is growing seasonally not only in Europe, but also in Asia, prices will go up,” the analyst adds.

Stock prices for gas in Europe have been growing since the spring of last year and continue to update their historical highs. The price record of $3,892 per thousand cubic meters was reached on March 7. Gas quotes a day earlier for the first time since the beginning of spring crossed the threshold of $3,500, but then dropped again – to the level of $2,500. This is several times higher than last year’s prices, when gas prices were already at a record high.