Long-term Russian gas contracts 'can be undesirable'Posted by Greenwood Steele on February 24th, 2021 The EU's long-lasting gas agreements with its dominant distributor Russia can be "harmful" for energy safety and security and markets, EU President Donald Tusk claimed late Thursday after an EU leaders' meeting in Brussels. " Where gas is imported from various sources as well as contracts are versatile, points are fine," he informed press reporters after the leaders had discussed the European Commission's EU power union method published last month. " But most reciprocal contracts with our leading supplier, Russia, are wrapped up on a long-term basis, occasionally greater than two decades. That can be unhealthy, both for our protection and also for our market," stated Tusk, a former prime minister of Poland. He said the argument on just how to improve transparency in such lasting agreements with exterior suppliers was "maybe one of the most questionable as well as interesting part" of the conference. EU leaders concurred that "all gas agreements-- between governments or services-- need to remain in line with EU legislation, need to be much more transparent and also need to not adversely effect Europe's energy security." The EC claimed in its EU power union technique that it desired access to EU business gas contract information to assist all EU companies enhance their negotiating positions with leading exterior suppliers. It likewise wished to be entailed earlier in talks on intergovernmental agreements with exterior producer nations, to make certain that these remain in line with EU legislation. EC vice-president for power union Maros Sefcovic stated last month the EC wanted to collect data on the most important commercial agreement specifications, consisting of cost, volumes and the problems for marketing the gas, such as the distribution point. The purpose would certainly be to allow gas firms about to discuss long-lasting contracts with an exterior distributor to get guidance from the EC on what had actually been discussed by various other business and also with various other vendors. The EC said it would include these openness propositions in updates to existing EU regulation prior to the end of following year. ATMP na5 as well as the EU leaders emphasized that all industrial confidentiality would need to be secured. EU leaders likewise agreed Thursday "to explore just how European business can voluntarily join up as well as acquire gas from outside providers," Tusk claimed. The EC has stated it will certainly consider the usefulness of this for the six EU nations in eastern European which are totally based on Russia for gas imports, as well as for use in a supply dilemma.Like it? Share it! More by this author |