Following the increasing tension between Russia and Ukraine, natural gas prices in Europe for March futures contracts started the day with an increase of 21 percent. The rise in gas prices was due to Russian President Vladimir Putin’s signing of the decree on the recognition of the so-called administrations of pro-Russian separatists in eastern Ukraine yesterday and announcing that the US and EU would take steps regarding sanctions by condemning the developments. Former Russian President Dmitriy Medvedev said, “Welcome to a world where Europe will pay 2 thousand euros for natural gas,” regarding the Nord Stream 2 sanction statement from Germany. EU countries currently import 90 percent of their natural gas needs. Russia is the country that supplies the most natural gas to Europe. Following these developments, a remarkable statement came from Iran.
IRAN’S PLANS TO INCREASE NATURAL GAS PRODUCTION
Uci, who participated in a program broadcast on Iranian state television, stated that they are planning to increase the natural gas production of his country.
Noting that they signed a memorandum of understanding envisaging energy cooperation with Venezuela at the 6th Gas Exporting Countries Forum held in Qatar, Uci said, “Within the scope of the agreement, we will develop both oil and gas refineries and fields in Venezuela, which has been deprived of foreign investment and technology due to US sanctions. ” said.
“WE HAVE THE CAPACITY TO SUPPLY GAS TO EUROPE”
Expressing that his country has human capital specialized in the production, refining and transfer of petroleum products, Uci said, “We emphasized at the Gas Exporting Countries Forum that we have the capacity to supply gas to neighboring countries and Europe. We aim to increase our share of 2 percent in world gas trade in the coming years. We hope.” he said. (AA)