Why it’s in everyone’s interest to return to normal energy prices

With the post-pandemic economic recovery starting sooner than expected, and worldwide energy prices spiking in recent weeks, some EU countries have especially felt the pinch – in particular those that have preferred to buy gas at current market prices rather than to sign long-term contracts, mainly with Russia, for their gas supply. But is this really a ‘supply problem’ like we saw in the 1970s oil crisis, or only a temporary price problem due to unusual conditions and fluctuations in the market? According to Alexander Duleba of the Slovak Foreign Policy Association, an expert on EU energy policy and on relations with Russia, supply is not the issue: and it’s very much in the interests of everyone involved – both suppliers and consumers of gas – that prices return to normal levels as quickly as possible.

Alexander Duleba, the senior expert at SFPA, gave an interview to Jonathan McCormick for Radio Slovakia International.