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UK to start directly buying Russian gas

Published time: March 24, 2014 11:02
Edited time: March 24, 2014 18:51
Reuters/Paul Hackett

Reuters/Paul Hackett

Britain will begin buying Russian gas directly this year, while the rest of Europe is attempting to cut its reliance on supplies from Moscow amidst the crisis in Ukraine.

Under a deal signed in 2012 the UK’s biggest utility company Centrica will start importing Russian gas from October this year, Reuters reports.

The deal remains in the pipeline, despite EU calls to move away from energy reliance on Russia. On Friday European Union leaders discussed the possible ways to diversify, as they say Crimea’s annexation by Russia made them more determined to take action.

UK domestic gas production is falling by about 7 percent annually, and the country is looking for alternative sources to fill the gap.

Supplies of Russian gas, which already provide a third of Europe’s needs, reach Britain through the central and south eastern parts of the continent, rather than directly. Most of Britain’s imports comes piped from Norway and liquefied natural gas (LNG) shipments from further afield.

Most Russian supplies have recently been from storage in Germany.

Russia’s energy major Gazprom sells between 11 billion and 12 billion cubic metres to the UK, which is about 15 percent of country’s total need.

Comments (47)

 

FromTheNetherlands 21.05.2014 15:19

Georg Friderich Handel 24.03.2014 13:10

[quote name='LoneRanger' time='24.03.2014 12:51']How ironic, after the UK is putting sanctions on Russia, they are now buying gas from Moskva. "UK is the land of hypocrisy".[/qu ote]

In today global economy, there are no enemies ond friends, there is only money and bussines !

  


T hey gave it such hypocrisy a name, it's "Frenemies" ;.
It's more of a worthless attempt to cover up the greediness and hypocrisy

 

Sean B 27.03.2014 04:08

David Mason 26.03.2014 02:51

Next step is to start charging in Rubles for the natural resources sold. I don't know why Russia is not doing it already. Those who don't have Rubles can be provided with loans with an interest rate attached through the Russian Central Bank. Then the West should start thinking about how will they earn Rubles to pay for resources and to pay off the loans. Let them think what is it they can sell to Russia to be paid in Rubles. That will turn tables very quickly.

  

Russia do need to actually sell the gas you know. They aint stupid.

 

Yarilo 26.03.2014 12:23

Just common sense.
UK has enough problems, no need to follow the arrogant US lead in supporting the Ukrainian neo-Nazis.

View all comments (47)
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