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Gas Supplies Drop Across Europe as Russia-Ukraine Dispute Drags On
Supplies of natural gas have fallen sharply across Europe and are now approaching crisis levels, as the standoff between Russia and Ukraine continues to drag on.
Austria, Bulgaria, Croatia, Germany, Greece, Italy, Macedonia, Poland, Romania, Slovakia, Turkey and the Czech Republic all have said that gas shipments coming through Ukraine had stopped or fallen sharply.
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Italy, Greece, and the Balkans have been among the hardest hit by the ongoing dispute.
As of yesterday (Tuesday) Russian gas deliveries to Italy had fallen by 80%…
7Jan2009 | Money Morning | 0 comments | ContinuedGazprom Keeps the Heat on Europe by Pressing Libya
OAO Gazprom, Russia’s state- sponsored gas monopoly, is offering to buy all of Libya’s oil and gas exports in a bid to increase its dominance over Europe’s gas market and enhance Russia’s political clout throughout the region.
Alexei Miller, Gazprom’s chief executive, made the offer on July 9th at a meeting with Libya’s head of state, Muammer Gaddafi.
“Libya positively evaluated Gazprom’s proposition to buy all future volumes of gas, oil, and [liquefied natural gas] designed for export at market price,” Gazprom said in a statement after the meeting.
A member of the Organization of Petroleum Exporting Countries, Libya produces…
14Jul2008 | Money Morning | Comments Off | Continued
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