MOSCOW (Pakistan Point News / Sputnik - 29th December, 2021) Russia is ready to increase gas production and supplies to meet demand in Europe in any volume, but long-term contracts are needed, Russian Deputy Prime Minister Alexander Novak said.
"Physically, we are ready to increase production and supply volumes. The resource base that exists in Russia allows us to meet the demand of European consumers in any volume. But, of course, this is not a quick process, because the policy that was carried out in the EU was aimed at reducing demand. Gazprom needs long-term contracts, because a production increase requires large investments, which should pay off in the long term," Novak told the RBC newspaper.
"We are accused of not supplying additional volumes of gas to Europe. Sign long-term contracts, and we will be ready to supply more. This proposal is always valid," he said.
