Russia could maximize gas revenues by resuming sale to EU

Russia could maximize revenues if it decides to resume selling natural gas to the EU member states again. Russia may have to turn the natural gas tap back on for Europe, Citi’s global head of commodities research said Wednesday. Russia has halted Nord Stream 1 flows, and Europe is facing a worsening energy crisis ahead of winter.

“At some point Russia might want to maximize the revenue they are getting from natural gas,” Ed Morse told Bloomberg.

Russia could make more money if it restarted natural gas flows during key winter months, according to Citigroup’s’ global head of commodities research.

State-run energy giant Gazprom halted gas deliveries to Europe via the Nord Stream 1 pipeline last week. But Russia’s ability to sell the gas elsewhere by pipeline is mostly limited to former Soviet republics, which aren’t large enough to offset the volumes that went to Europe, said Ed Morse said in an interview with Bloomberg TV.