Europe was shaken in
2009 when vital midwinter supplies of Russian natural gas, piped through
Ukraine, cut out because of a price dispute between the two former Soviet countries.
Although Europe has since diversified supplies and increased stockpiles, it’s
still heavily dependent on Russian gas. And with Russia and Ukraine at
loggerheads, there was growing concern as the agreement that brought an end to
the 2009 standoff was due to expire Jan. 1. With days to go, however, a new
accord was announced — a relief all round, especially since Russia’s key
alternative pipeline is hindered by U.S. sanctions.
1. Why is this a big
Russia supplies almost
37% of …read more
Source:: The Frontier Post