Czech Republic may switch to LNG contracts to reduce dependence on Russian gas

The Czech Republic is considering the possibility of concluding a long-term contract for the purchase of LNG to reduce dependence on Russian gas, Foreign Minister Jan Lipavsky said in an interview with the Hospodarske noviny newspaper, Report informs.

He said that in December 2021, Russia manipulated the situation in the European gas market, which led to a jump in gas prices. In this regard, the need to diversify the sources of gas supplies is becoming even more important for the country. The new government of the Czech Republic, which took office on December 17, in its policy statement indicated the need for the republic to receive a share in an LNG terminal in one of its neighboring states.

On January 25, gas prices in Europe fluctuated within $1,010–$1,075 per 1,000 cubic meters.