Posted on 10/16/2014 7:33:32 AM PDT by McGruff
Russia's President Vladimir Putin said Russia will have to reduce gas supplies to Europe if Ukraine steals from gas pipelines that supply Europe—and crosses Ukraine en route. In June, Moscow halted gas supplies to Ukraine due to mounting debts and pricing disagreements.
Disturbance of Russian gas supplies to Europe has happened two times in the past ten years, in 2006 and 2009. A third of Europe's gas comes from Russia.
If no agreement is reached between Ukraine and Russia, Ukraine may face energy shortages this winter—further increasing risks to Europe's gas supply.
With oil below $100pb, I doubt Gaylord Pootie is any position to be pissing off his best customers.
That catch is for this year, Europe doesn’t have a way to replace much of that Russian Natural Gas supply.
Yes, it does...
Europe LNG terminal capacity seen ample if Russian gas flows stop
http://uk.reuters.com/article/2014/09/30/europe-gas-lng-idUKL6N0RV2I220140930
Europe potentially has enough LNG import capacity to meet over a third of its annual demand, with just 16 percent of the current regasification capacity of 207 billion cubic metres (bcm) utilised in the first eight months of this year, he said.
Looking at an average that includes the summer months is not a reasonable representation of the surplus capacity during the winter, not even close.
Also, where is the matching, currently unused LNG supply capacity? None of the US facilities will be operating this winter.
Of course they're going to say that. What do you expect? "If Russia cuts off our gas, we're screwed!"
You guys! Its more than a Game of Chess .. you must look a few moves ahead!
Russia’s Gazprom buys Europe’s biggest gas storage facility
http://rt.com/business/194208-russia-gazprom-buys-german-gas/
My thought also, with the abundance of oil and gas coming available it might be fun to starve out Putin's war machine.
“Could be another Cold War coming.”
Or perhaps not :)))
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