Russian gas giant Gazprom has turned down an option to maximize gas shipments to Europe as the continent faces a looming energy crisis amid surging natural gas prices. The decision sparked a further surge in wholesale gas prices in Europe, which have doubled over the last two months. Politicians in both Europe and the U.S. have criticized Gazprom, sensing a geopolitical move by Russia. The price surge comes at a crucial time in energy relations between the EU and Russia. Gazprom’s controversial Nord Stream 2 gas pipeline has just been completed and is awaiting certification by German regulators.
Source: The Moscow Times
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