The world economy is experiencing a global tectonic shift, with commodities becoming more valuable than money, Alexey Miller, head of Russia's state energy giant Gazprom, said at St. Petersburg International Economic Forum on Thursday, Russia Today reported on Friday.

"Our product, our rules. We don't play by the rules we didn't create," Miller said.

Russian gas flows to Europe fell short of demand recently as an early heatwave in southern Europe drives energy use, Reuters reported on Friday.

Italy and Slovakia reported receiving less than half of the usual volumes through the Nordstream 1 pipeline, which crosses the Baltic Sea from Russia to Germany and accounts for around 40 percent of Russian pipeline flows to the European Union.

France said it had received no Russian gas from Germany since June 15.

Germany's Uniper, a major importer of Russian gas, reported delivery of 60 percent less gas from Russia than agreed, but said it was able to make up the shortfall elsewhere.

"Based on our exchange with the national authorities yesterday via the Gas Coordination Group, there is no indication of an immediate security of supply risk, but we will keep monitoring the situation very closely and remain in contact with the national authorities of the affected countries," a European Commission spokesperson said on Friday.

(With input from agencies)