The Russian Deputy Prime Minister Alexander Novak announced on Wednesday that Russia is prepared to raise the required production volume of gas to meet European demand, noting that there is a need to conclude long-term contracts to this end.

He revealed that "in physical terms, we are ready to increase production and supply volumes. Russia’s resources make it possible to meet the demand of European consumers in any amount. But, of course, this is not a quick process, since the EU policy sought to reduce the demand. Gazprom needs long-term contracts, as the growth in production requires large investments, which should pay off over the longer term."

Earlier, Gazprom rejected accusations that it was cutting off its provision of Russian gas in the Yamal-Europe pipeline. 

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"All accusations against Russia and Gazprom that we are not supplying enough gas to the European market are absolutely groundless and unacceptable and untrue," Gazprom Spokesperson Sergei Kupriyanov said, dubbing the accusations "lies". 

Ready to increase supply

Novak stressed that the Russian Gazprom is still ready to export more gas to Europe within the current long-term contracts in place at a much lower cost.

A spokesperson for Gazprom said the number of military gas supplies from Germany to Poland and Ukraine ranges, according to the available information, between 3 to 5 million cubic meters per day. 

According to Gascad, a German operator, the Yamal-Europe pipeline which pumps Russian gas to western Europe had gas flowing in the opposite way for the fourth day in a row on Friday, which adds pressure, since the line pumps fuel from Germany to Poland. 

Putin argues that Warsaw has obstructed Russia from operating the Yamal-Europe pipeline, which operates from Russia to Belarus, to Poland then to Germany.