Editor of every business: Du Yu
According to CCTV News, on October 12 local time, EU Energy Minister Informal Meeting was held in Czech . In terms of natural gas price limit, whether it is the price limit of imported natural gas to Russia or the price limit of natural gas used for power generation, countries still have serious differences and have not reached an agreement. IMF said at a press conference on fiscal monitoring of the World Bank Group's 2022 annual meeting that soaring food and energy prices are increasing the risk of social unrest.
Also, according to China News Network , Russian President Putin html delivered a speech at the "Russia Energy Week" International Forum on 312, saying that although it was sanctioned by the West, Russia will not compromise and will continue to ensure energy security and stability.
Image source: Photo Network-30085888
The informal meeting of the EU Energy Ministers still failed to reach an agreement on natural gas price limit
On October 12th local time, the informal meeting of the EU Energy Ministers was held in the Czech Republic. All parties involved generally agreed to jointly purchase natural gas and promote energy conservation from the summer of 2023. However, in terms of natural gas price limits, countries still have serious differences and have not reached an agreement whether it is to limit the price limits on Russia's imported natural gas or the price limits on natural gas used for power generation.
European Commissioner Cadri Simson, who is in charge of energy affairs, said at a press conference held after the meeting that joint procurement of natural gas can effectively prevent member states from raising gas prices due to competition, and bulk procurement can also obtain preferential prices.
Czech Trade Minister Sikra admitted that in response to the energy crisis, each member state has different conditions and different rules and interests. He said the energy market has been working well for many years, and now if it intervenes in the market, it requires not only political agreement but also "effective and harmless" measures.
After Germany was criticized for announcing an €200 billion energy subsidy plan, calls for a unified solution to the energy crisis across the EU have become increasingly high, but member states have big differences over gas price limits. Germany remains skeptical of direct intervention in natural gas prices, believing that price limits may lead to supply disruptions. Some countries, including France, , Belgium, and Italy, agreed to set a price ceiling. Spain and Portugal are currently subsidizing the cost of natural gas for power generation to reduce energy expenditures for households and businesses.
International Monetary Fund : Rising energy prices increase the risk of social unrest
On October 12th local time, the International Monetary Fund (IMF) said at a press conference on the fiscal monitoring of the 2022 Annual Meeting of the World Bank Group that soaring food and energy prices are increasing the risk of social unrest, but the cost of solving the problem through tax cuts, subsidies and price control is too high.
International Monetary Fund President Georgieva also said on the same day that given the current funding situation, the mechanisms to provide long-term funding to help member countries cope with climate change, epidemics and other structural challenges are ready to start lending, and member countries can start applying, and these funds will provide a 20-year maturity and a 10.5-year grace period.
Putin: Russia will not compromise with the West and will ensure energy security and stability
Picture source: Visual China-VCG111399964949
Russian President Putin delivered a speech at the International Forum on the 12th, saying that although he was sanctioned by the West, Russia will not compromise and will continue to ensure energy security and stability.
According to the Kremlin website, Putin said that global energy faces unprecedented challenges and problems. He pointed out that the damage to the natural gas pipelines of " Nord Stream-1" and " Nord Stream-2" are undoubtedly an act of international terrorism, with the purpose of which is to undermine the energy security of the entire European continent. The attack on the Nord Stream pipeline sets a dangerous precedent, indicating that any critical transportation, energy or communications infrastructure will be under security threats, no matter where or who control it.
Putin said Russia is still ready to export energy within the contract framework.He said it is possible to repair the three damaged pipelines of the North Stream, but it only makes sense if it can continue to operate and ensure safety. He proposed that if Europe wants, Russia can supply gas to Europe through an undamaged pipeline of "North Stream-2", with a capacity of 27.5 billion cubic meters per year, accounting for about 8% of the total natural gas imports in Europe. "Now the ball has reached the EU side." He said that the Nord Stream project has no political background and is purely a commercial project involving Russian and European companies on an equal basis, which means that the fate of the Nord Stream should be decided jointly by Russian and EU countries partners.
Putin said that if partners are interested, Russia can transfer the gas interrupted by the "North Stream" pipeline to the Black Sea area by building a "hub" to Europe's gas supply to , thereby building the main route for gas supply to Europe through Turkey. In addition, Russia will continue to expand its energy exports and supply scope to the rapidly developing market. In the near future, the construction of projects in key infrastructure will be determined and started, including the " Siberian Power-2" natural gas pipeline and its Mongolia section "Oriental Alliance" and other promising projects, and will connect with the gas transmission systems in parts of Asia and Europe, and continue to support the liquefied natural gas terminal project. Daily Economic NewsComprehensive CCTV News, China News Network Daily Economic News
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