Friday, May 16, 2014

Europe’s Short-term Russian Gas Replacement Options; Estimated Costs for Russia and EU

Europe’s Short-term Russian Gas Replacement Options; Estimated Costs for Russia and EU

By Roman Kilisek
Cold Weather Brings On Rising Heating Costs
 A Russian natural gas supply cutoff to Ukraine due to unpaid bills in the amount of $3.51 billion - which could occur next month - would also indirectly impact the European Union. Over half of Russia’s gas exports to Europe transit the Ukraine. A recent Bloomberg article draws the conclusion that it will be extremely difficult for Europe

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