Gazprom cannot guarantee gas deliveries to Europe

Russia’s Gazprom says it cannot guarantee natural gas deliveries to European customers – as its exports to China hit an all-time high.

Russia’s Gazprom has tried to claim “force majeure” — or an act of God — in its natural gas contracts with European buyers. Force majeure clauses allow parties to be released from their obligations due to extreme or unforeseen circumstances.

It comes as Gazprom’s natural gas exports to China through the Power of Siberia pipeline hit a record high, in a sign of Russia’s pivot away from Europe and toward Asia.

Russia’s Gazprom has tried to trigger an “act of God” clause in its natural-gas contracts with European buyers, arguing that it should not be held responsible for recent or current drops in supplies.

Analysts said the move raises questions about whether Russia is planning to permanently reduce or even halt flows of the vital fossil fuel to Europe, in what could be a huge blow for the region’s economy.