• Natural Gas News

    Reuters: European leaders seek ways to curb dependence on Russian gas

    old

Summary

European leaders will tell Kiev it can supply Ukraine with gas. Officials say US could relax controls on energy exports.

by:

Posted in:

Press Notes

Reuters: European leaders seek ways to curb dependence on Russian gas

European leaders will seek ways to cut their multi-billion-dollar dependence on Russian gas at talks in Brussels on Thursday and Friday, while stopping short of severing energy ties with Moscow for now.

Russia's seizure of Ukraine's Crimea region has revived doubts about whether the European Union should continue to rely on Russia for nearly a third of its gas, providing Gazprom with an average of $5 billion per month in revenues. Some 40 percent of that gas is shipped via Ukraine.

EU powerhouse Germany is among those with particularly close energy links to Russia and has echoed comments from Gazprom, Russia's top natural gas producer, that Russia has been a reliable supplier for decades.  MORE