Russia’s gas giant Gazprom could increase production capacity if it sees higher demand for volumes under long-term supply contracts from Europe, Russian Deputy Prime Minister Alexander Novak said on Friday. Speaking about Gazprom’s production facilities and deliveries to Europe in September, Novak told Russian news outlet Business FM that production capacity can’t just be magically raised. “Of course, if Russia’s European partners increase orders and if the volumes in long-term contracts grow, I think that Gazprom will surely develop its production capacity,” Novak told Business FM in an interview on the sidelines of the Russian Energy Week. Europe’s energy crisis is the result of very low gas inventories and policy mistakes, not low supply from Russia, said Novak, joining other Russian officials including President Vladimir Putin, who mocked on Thursday the suggestion that Russia was using gas as an economic weapon. In the interview with Business FM, Novak also […]