EUOBSERVER / BRUSSELS - European gas companies may end up buying excess volumes of Russian gas to help prevent a fresh EU supply crisis, in plans to be discussed at the EU summit on Thursday (18 June). Russian supplier Gazprom is facing financial and technical difficulties after having contracted to buy set volumes of gas from central Asian producers while facing a sharp drop in demand in the EU and Ukraine. A gas storage tank: Ukraine seems to be hoarding supplies in aniticipation of a fresh Russian cut-off At the same time, Ukraine gas distributor, Naftogaz, is running out of money to pay the Russian firm. But Ukraine has hoarded gas in its vast underground tanks to help see it through the winter in case Gazprom cuts off supplies. The last Russian cut-off, in January, caused massive disruption in the EU, which receives 25 percent of its gas from Russia via Ukraine.
EUOBSERVER / BRUSSELS - European gas companies may end up buying excess volumes of Russian gas to help prevent a fresh EU supply crisis, in plans to be discussed at the EU summit on Thursday (18 June).
Russian supplier Gazprom is facing financial and technical difficulties after having contracted to buy set volumes of gas from central Asian producers while facing a sharp drop in demand in the EU and Ukraine.
A gas storage tank: Ukraine seems to be hoarding supplies in aniticipation of a fresh Russian cut-off
At the same time, Ukraine gas distributor, Naftogaz, is running out of money to pay the Russian firm. But Ukraine has hoarded gas in its vast underground tanks to help see it through the winter in case Gazprom cuts off supplies.
The last Russian cut-off, in January, caused massive disruption in the EU, which receives 25 percent of its gas from Russia via Ukraine.
And it's hopefully confused. What's the crisis? Gazprom is in trouble because demand is too low, so that threatens their ability to make deliveries (which are not asked for by consumers)?? Ukrainian gas storage is being filled up during summer to build up reserves during winter (which is their sole purpose)?
Ignorant, stupid, fearmongering article. In the long run, we're all dead. John Maynard Keynes
