Russian gas giant Gazprom is in a strong position to battle it out with the EU Commission over European gas prices, and in its efforts to install gas pipeline Nord Stream 2 despite concerns from Denmark and other Northern European countries.
At least, if its latest figures are anything to go by. 2016 proved a solid year for the gas company, where Gazprom earned USD 16.7 billion (EUR 15.3 billion) corresponding to 21 percent growth.
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European lawmakers demand action to rein in gas prices, and the EU Commission has drafted a plan. However, gas prices constitute tricky puzzle: No matter how it’s approached, Europe faces an energy shortage in the next six months. The only way to help consumers is through aid, but this is a potentially costly and dangerous path, says analyst.