Russian Government Ministers Criticise Third Energy Package

Russian Deputy Energy Minister Anatoly Yanovsky has said that the country will diversify its gas supply to more Asian markets, the RIA Novosti news agency has reported. The decision to expand more into the Asian-Pacific region came as a result of the Third Energy Package, Mr. Yanovsky said.

The Third Energy Package is a European initiative which sets out the terms and conditions of energy supply to consumers. It aims to regulate the market, ensuring freedom of consumer choice, fair pricing, supply security and clean energy.

Mr. Yanovsky said that, due to disputes with the European Commission regarding Russia's proposal for the package, meant that the country would have to pursue other supply arena.

"We think that some terms of the third package contradict international obligations between Russia and the European Commission and agreements on investment security, which were signed between Russia and many EU members," he said.

"Of course, in such conditions we will review our general scheme for development of the gas industry. The aim will be diversification of gas supply routes, including the delivery to Asian-Pacific countries such as Korea, China."

Earlier this week, Russian Prime Minister Vladimir Putin accused the EU of trying to force down prices for gas supply to Europe. 

"It is not really a very longsighted approach, because… today oil is selling at a decent price, but tomorrow it may fall, so Gazprom will endure losses and those who buy gas will, on the contrary, win," Mr. Putin told Russian media.

Mr. Putin suggested that the middlemen be cut out between suppliers and consumers to ensure a fair price was achieved by all parties.

"Let Gazprom directly supply gas to the energy stations, so there will be neither an intermediary nor an additional price margin, the price of the product will fall," he said.