MOSCOW (Reuters – Russian gas consumption reached a record level, but Moscow has the capability to supply more to Europe if requested.

European spot gas prices rose 800% in 2018 as the demand for it has rebounded from the pandemic. Although prices eased this month, Russia, Europe’s major gas supplier, indicated that it may deliver more in future, the supply has yet to come.

Novak, a Russian journalist, stated, “I would like to emphasize that Russia’s record-high gas consumption figures in this year are also due to active economy recovery.” Novak spoke in an interview to Rossiya 1 TV, according to Russian media agencies.

Russia’s gas production and EU exports are nearing record levels. Russia has stated that it must finish its gas storage to increase supplies to Europe. The Russian government plans to finish this task by October.

Novak didn’t say the size of Russia’s natural gas reserves, but he estimated that European underground gas facilities had a deficit of approximately 25 billion cubic meters of gas.

He said that Russia would continue to supply Europe with more goods and services despite high domestic demand.