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    Russia burning excess gas after Europe supply cut: EU energy chief

    Synopsis

    Europe is facing an acute energy shortage this winter after the announcement on Friday of a complete shutdown of the Nord Stream 1 gas pipeline by Russian giant Gazprom. The Kremlin has blamed the halt in deliveries on sanctions imposed by the West over Russia's invasion of Ukraine. Europe is also looking to wean itself off Russian oil, meaning Moscow "is seeking new markets, and they are selling their oil products with a significant discount to the ones who are willing to buy it", Simson said.

    Russia burning excess gas after Europe supply cut: EU energy chief
    Russia is burning excess gas because it has no capacity to store it after cutting deliveries to the European Union, the bloc's energy commissioner said Tuesday.

    "Our satellites are registering the leak of natural gas or them flaring the natural gas and this is very polluting," European Commissioner for Energy Kadri Simson told reporters during a visit to Indonesia.
    "They don't have alternative pipeline connections to other regions in the world, and their own underground gas storage is full."

    Europe is facing an acute energy shortage this winter after the announcement on Friday of a complete shutdown of the Nord Stream 1 gas pipeline by Russian giant Gazprom.

    The Kremlin has blamed the halt in deliveries on sanctions imposed by the West over Russia's invasion of Ukraine.

    Europe is also looking to wean itself off Russian oil, meaning Moscow "is seeking new markets, and they are selling their oil products with a significant discount to the ones who are willing to buy it", Simson said.

    The G7 group of advanced nations on Friday announced a cap on the price of oil imported from Russia in order to limit Moscow's revenues.

    "We don't want to pay the unfair price to the aggressor. So our message to Indonesia but also to India and China is, if you're still willing to buy Russian oil products, propose an oil price cap to them," Simson added.

    Simson, who was in the Indonesian capital Jakarta for a G20 energy meeting and bilateral talks, will next fly to India where she is expected to discuss the price cap proposal.

    She did not indicate what position Indonesia had taken.

    Indonesian oil company Pertamina previously considered snapping up Russian oil at a knockdown price but has not confirmed whether it has signed a contract since the start of the war in Ukraine in February.


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