• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 1 day Wind droughts
  • 4 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 2 days Oil Prices Fall After Fed Raises Rates
  • 12 days How Far Have We Really Gotten With Alternative Energy
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 2 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 7 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 10 days The Federal Reserve and Money...Aspects which are not widely known
Russia Restarts Nord Stream Gas Supply To Europe

Russia Restarts Nord Stream Gas Supply To Europe

Russian gas flows via Nord…

Are You Really Being ‘Gouged’ At The Gas Pump?

Are You Really Being ‘Gouged’ At The Gas Pump?

Consumers are becoming increasingly stressed…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

Natural Gas Prices Plunge As Putin Promises More Supply

  • Front-month Henry Hub gas prices fell along with TTF benchmark prices on Wednesday after Russian President Putin promised that his country would send more natural gas to Europe
  • Putin: current energy market crisis is the result of ''unbalanced decisions''

Natural gas futures mercifully slipped 10% on Wednesday after Russian President Vladimir Putin promised that the gas-rich nation would send more natural gas to Europe.

Gas prices are still twice as high as they were last month.

On Tuesday, natural gas futures had settled at a high not seen in more than a decade.

But Putin said Russia could send more gas to Europe via Ukraine—even more than contracted—and are set to hit a record this year.

Russia's state-run gas giant, Gazprom, has come under fire in recent weeks for failing to send as much gas to Europe as analysts have alleged it could.

Russia has denied that this is the case.

Putin also took the opportunity to blame the high natural gas prices on Europe. What's more, Putin blamed Europe's energy market crisis on the green transition.

Putin used the phrases "unbalanced decisions" and "drastic steps" when referring to how the transition away from fossil fuels and toward renewable energy was being handled.

"Some people are speculating on climate change issues, some people are underestimating some things, some are starting to cut back on investments in the extractive industries. There needs to be a smooth transition," Putin said, according to Reuters.

"They have made mistakes," Putin said during a meeting with Russian energy officials.  Putin was quick to point out the danger of relying on the spot market in favor of long-term contracts.

Putin has long maintained that the world needs oil, gas, and coal, and that the world should be focused on responsible extraction and production.

And it is this very production that the world is now clamoring for, as winter blackouts and soaring energy prices loom, not just for Europe, but for Asia and the United States as well.

By Julianne Geiger for Oilprice.com

More Top Reads from Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • George Doolittle on October 06 2021 said:
    Long Royal Dutch Shell
    Strong buy

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News