German Ambassador to Russia calls EU gas price hike 'a pan Europe issue'

German Ambassador to Russia Geza Andreas von Geyr on Sunday, October 24 stated that the recent gas price hike in the European market is being resolved on a larger scale as it is a pan Europe issue. His remarks came after the natural gas and fuel prices hit new highs in Europe, stretching the energy sector due to surge in demand, particularly from Asia due to the COVID-19 pandemic recovery after the countries emerged out of the lockdown ahead of the winters. 

Amid the reports that the spike in energy costs might create disruptions for the German companies’ ability to operate, German Ambassador to Russia von Geyr told the EU press that the gas price crisis “is a multifaceted topic, and the solution is currently being worked out.” Furthermore, the minister added, that the energy crisis not only concerns Germany but entire Europe as well as Moscow. He confirmed, that Russian President Vladimir Putin has also agreed to work with the EU to resolve the looming crisis. “Everyone is working on this together,” the German Ambassador to Russia stressed, as reported by Sputnik.

When asked by the reporters to comment on Nord Stream 2 pipeline project, von Geyr said that the project had been completed and was nearly ready to operate. "Now there is the issue of certification. It must be completed legitimately, transparently. When the entire certification procedure is completed, then, accordingly, the putting of the Nord Stream 2 into operation will be open to discussion,” he stressed in his remarks to the EU reporters. 

Norwegian firm warns EU gas price hike can lead to 'famine'

One of Europe's largest natural gas and fertilizer firms Yara International ASA last week warned that the skyrocketing fuel and gas prices in Europe might plummet worldwide agricultural production, causing widespread global famine in the vulnerable countries. In its third-quarter October report, the President and Chief Executive Officer of Yara, Svein Tore Holsether, stated that the surge in the gas prices across Europe has led to curtailing of around 40 per cent of European ammonia production.

"European nitrogen production is essential to global food security,” he warned, adding that this situation elevates concerns about the impact the current European natural gas prices will have on the world’s poorest regions where prices disrupt food production. According to the Norway based firm, the global prices for the fertilizer urea, a key ingredient for food production and farming had spiked in prices to a whopping $850 (£615) from $260 in 2020. This month, the Fertilizer Index broke the record and is expected to approach all-time high levels in 2022.