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>Gazprom still kept their long-term contracts but unlike all the prior times did not supply much on the spot market - which led to the well observed price hikes
by fuoqi 5y ago
>Gazprom still kept their long-term contracts but unlike all the prior times did not supply much on the spot market - which led to the well observed price hikes and utilities going bankrupt or out of business because their "old" strategy of simply buying on the spot market didn't work out.
What do you expect to happen when long-term contracts get tied to spot prices? Why the hell would Gazprom willingly lower the spot prices when bulk of its sales will suffer from it?
- mschuster91 5y ago> Why the hell would Gazprom willingly lower the spot prices when bulk of its sales will suffer from it? Because that is what they have done for the last decades - the pipelines have more than enough capacity, even without NS2. They only stopped selling on the short-term market last year. The only explanation why Gazprom was leaving that obscene mountain of money on the table is because they have been ordered to do so by Vladolf himself, so that he has leverage against Germany in the Ukraine invasion.