18-06-14

Russian gas cut ticking time bomb, not immediate threat

Economic Times: Russia's decision to cut gas supplies to Ukraine carries few immediate risks for European consumers, analysts say, with plenty of gas already in storage and little demand during summer

 

Moritz Bonn, an analyst with the Centre for European Policy, points out that both Europe and Ukraine need little gas for heating during the northern hemisphere summer. "The situation is very different from 2009 due to the season," he said. The EU has reduced its dependance on Russian gas flowing via Ukraine since the last dispute, though some countries such as Slovakia and Bulgaria remain heavily reliant on those supplies, Bonn added ... read more