On December 15, the Valdai Club hosted an expert discussion, titled “Energy Crisis: Will Europe Have the Coldest Winter in History?” with the participation of Pavel Sorokin, Deputy Minister of Energy of the Russian Federation.
The real winter is just beginning in Europe, but the situation on the gas market is still alarming. Back in November, active gas extraction from storage facilities began. Hub prices remain super-high. There has been a sharp rise in the cost of electricity, energy companies are filing for bankruptcy, and factories that use gas in their production operations are closed. A “gas inflation chain” is beginning to form across the entire range of gas consumption. Gas tariffs in the retail sector are being revised.