EU and Russia take steps to shield consumers from gas cutoffs
Published: 16 November, 2009, 16:57
Edited: 18 November, 2009, 20:23
The European Union says gas consumers won’t suffer if Ukraine starts another transit war this winter.
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Russian Energy Minister Sergei Shmatko and EU Energy Commissioner Andris Piebalgs signed a document outlining procedures for ensuring energy security in future gas crisis.
In his address to the parliament last week, President Dmitry Medvedev urged the government to tighten control over infrastructure projects, especially road construction.
The President of Singaporean industrial conglomerate, Keppel Corporation, Chiau Beng Choo, believes Gazprom may become an exclusive supplier of liquefied natural gas to Singapore.
18.06.2009, 22:08
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Ukraine is looking to get $4 billion dollars from Europe to assist in buying Russian gas. Naftogaz Ukraine has seen net losses increase 80% year on year in the first quarter of 2009, and needs money to pay its debts.
The European Union has no intention of isolating Russia from the process of upgrading Ukraine's gas pipeline network. But Moscow is concerned the involvement of Brussels may result in higher gas transit fees for Russia.
Russian Prime Minister, Vladimir Putin, has condemned the signing of an agreement between the EU and Ukraine on overhauling Ukraine's gas pipelines, saying it is meaningless without Russian involvement.
Prime Minister Vladimir Putin has reiterated Russia's position saying it reserves the right to act, if Ukraine fails to make gas payments, claiming Ukraine has enough money to pay for gas from its international reserves.
European power giant GDF says it will increase its gas reserves, after Ukraine admitted it would have trouble paying its next Gazprom bill and fears of another round of gas disputes mount.
Gazprom’s position on payment for contracted gas volumes will not trigger a dispute with Naftogaz of Ukraine this winter, warming the outlook for European consumers dependent on uninterrupted supplies of Russian gas.
Russia says it’s made significant concessions to Ukraine, so it has no excuse to cut gas pipelines to Europe this winter. But Energy Minister Sergey Shmatko says precautions are still in place.
Published: 16 November, 2009, 16:57
Edited: 18 November, 2009, 20:23
The European Union says gas consumers won’t suffer if Ukraine starts another transit war this winter.