Arab Today, arab today europe less exposed to any russian gas cut
Last Updated : GMT 11:16:14
Arab Today, arab today
Arab Today, arab today

Europe less exposed to any Russian gas cut

Arab Today, arab today

Arab Today, arab today Europe less exposed to any Russian gas cut

Paris - AFP

Europe may be consuming more Russian natural gas, but it is less exposed to a possible cut of supplies through Ukraine thanks to new pipelines and an exceptionally warm winter. Russia's intervention in the Ukraine crisis has raised concerns of a cut in supplies as most of the exports by Russian gas giant Gazprom flow through the former Soviet state. Price disputes in 2006 and 2009 between state-controlled Gazprom and Ukraine led to severe cuts in supplies during the dead of winter in many eastern European countries which are nearly completely dependent on Russian gas, leaving apartments cold and shuttering factories. This year however any cut in supplies would be coming at the onset of warmer weather, and Europe has had its mildest winter in six years, reducing demand for gas. On Monday, gas storage facilities were 48.8 percent full, compared to around 37 percent at the same time last year, according to Gas Infrastructure Europe (GIE), the association of pipeline operators in European countries. That is enough for about six weeks of consumption, according to experts. And less Russian gas now flows through Ukraine, which has had chronic problems in paying Gazprom and is regularly at loggerheads over prices. Previously around three-quarters of the Russian gas flowed through pipelines that cross Ukraine. This has now fallen to around half following the opening in 2011 of Nord Stream, a pipeline which takes natural gas from near Saint Petersburg to Germany under the Baltic Sea. Russian gas supplies via Ukraine now account for about 15 percent of total consumption in Europe. The construction of Nord Stream was controversial over environmental concerns and for reinforcing dependence on Russia, but its operation means Germany is not worried about supplies. "Gas reserves are quite full," a German Economy Ministry spokeswoman said. "We are well prepared for any potential supply problems." - Cuts would hurt Russia - The French industry is also unfazed about a cut in supplies. "We don't think that the Russians are going to do that" said one source. Experts agree. "Potential short-term gas supply disruption to Europe will drive continued market volatility in coming weeks, but protracted cuts would be too damaging for Russia to sustain," said gas analyst Leslie Palti-Guzman at Eurasia Group. She said a cut would likely only come in the case of a conflict spreading throughout eastern Ukraine, but noted a long-drawn crisis would not only hurt Russia's finances in the short term but in the longer term as European countries would likely push forward with plans to diversify their supplies. While Europe is dependent on Russia for gas, "Russia is also dependent on Europe, because a major part of its revenues come from these deliveries," said Claudia Kemfert, a German energy specialist. In 2012, 57 percent of Russia's gas exports go to Western Europe, 24 percent to Eastern Europe, and 19 percent to Turkey, according to information from the US government's Energy Information Administration, although Moscow aims to sell gas to Asia. Ukraine also has an interest in keeping the gas flowing as it receives transit payments. However if Russia cuts deliveries to Ukraine over payment disputes, Kiev could be tempted to consume supplies meant for Europe. In a sign of continued tensions, Gazprom on Tuesday said it would end in April a price discount that had just been granted to Ukraine, but offer Kiev a loan of up to $3 billion to cover its debt. On Saturday, Gazprom said Ukraine owes it a debt of $1.55 billion for unpaid gas. Moscow has been frequently accused of using its gas exporting monopoly as a diplomatic weapon aimed at influencing decisions of ex-Soviet nations that rely on Russian gas and contemplate closer relations with the West. A cut in supplies via Ukraine would hit central and southern European countries hardest, as most depend for much if not nearly all of their gas via pipelines which pass through the country. Russia has been trying to reduce its dependence, as well as that of these countries on Ukrainian transit routes, and has launched construction of the South Stream pipeline which carry supplies under the Black Sea to Bulgaria and then spread throughout the region.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today europe less exposed to any russian gas cut Arab Today, arab today europe less exposed to any russian gas cut

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday