Europe may lose a quarter of its gas supply, page 1
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Topic started on 31-12-2008 @ 12:00 PM by AlwaysQuestion

Europe may lose a quarter of its gas supply


www.presstv.ir
Russia's Gazprom, supplier of a quarter of Europe's gas, warns that unless Ukraine signs a new contract gas supply to Europe will be cut.

Gazprom, the world's largest gas producer, says it would stop gas supplies to Ukraine at 0700 GMT Thursday if the country refuses to sing a new contract by the deadline of midnight Wednesday.
(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Russian and Ukraine Gas Crisis Affecting EU (moved from ATSNN)


reply posted on 31-12-2008 @ 12:10 PM by MikeboydUS
reply to post by sadchild01


If it destroyed the west economically it would destroy itself.

Russia depends on high energy prices for its economy. If it destroys western demand for energy that would hurt itself far more than hurting the West.

The modern world is simply too interdependent to make power plays that worked in the past. It sends shockwaves through world markets and cripples nations not even involved in the power plays.



[edit on 31/12/08 by MikeboydUS]


reply posted on 31-12-2008 @ 12:32 PM by sadchild01
reply to post by MikeboydUS


not necessarily , it may be beneficial for Russia in the long term , as it will enable Russia to take control of West and its resources .... thereby inevitably benefiting it .

secondly,the economically destroyed West , will, have to agree to Russia in making yuan/Rouble , the reserve currency of Europe , as west is debt ridden, and this will inevitably transfer control of finances of Europe/West to China/Russia , enabling either to dictate terms similiar to IMF , thus further enabling more control of Western economy

[edit on 31-12-2008 by sadchild01]


reply posted on 31-12-2008 @ 12:37 PM by Harlequin
www.telegraph.co.uk...

In the wake of dramatic falls in the price of oil and the wholesale cost of gas, the firms should be able to pass on cuts of 19pc to consumers on standard tariffs next month, Energyhelpline.com, the comparison service, has calculated.

But a spokesman for British Gas said: “We could look at cutting our prices in the spring, although it’s impossible to say by how much. Most of the gas for this winter was bought at higher prices than today’s.”


the same excuse was said by the petrol companies - and yet there has been a 20% fall in pump price - the gas companies are the crooks here


reply posted on 31-12-2008 @ 01:29 PM by MikeboydUS
reply to post by sadchild01


How will it be good in the long term? Russia would be economically devastated. They would be in as much debt as the West. Neither side would benefit short or long term.

Europe would not want the ruble and no one would want the Yuan either. China's economy would be just as devastated by a western economic collapse.

China and Russia both would be too busy with internal security during such an economic collapse to dictate anything to anyone.

China does not want a western economic collapse. Its export economy needs people from the west to buy their products. Russia needs the world's energy markets to stay high in order to prosper. To do that Western economies need to have high demand for energy and plenty of money to purchase Chinese products.

Another thing is the resulting effects of cutting off energy and devastating nations economically. Its a good way to foment desperation and extremism.
Instead of really hurting the west it might lead to fascist demagogues and totalitarianism. Russia might find itself facing off with a fascist Trans Atlantic Union, a literal Western Imperium that Hitler could only dream of.


reply posted on 31-12-2008 @ 01:36 PM by Mdv2
Originally posted by Harlequin
Originally posted by Mdv2
What a silly fear mongering again. May I give you a tip? Don't use the Iranian (state) press anymore as source. Ukraine officials have today arranged that Ukraine will pay 1 billion USD of its bill to Russia.

Anyhow, living in a country with the 2nd largest gas reserves in Europe, and the 17th largest in the world, I care little about all of this. Additionally, a new pipeline which is being built through the Baltic sea will avoid these Eastern European countries.


briliiant!

link? the OP article was at 13.54 GMT of todays date


It's 2 billion, my bad.
LONDON -- The Ukrainian government said Tuesday the state-controlled gas company Naftogaz will pay a $2 billion gas debt to Russia's OAO Gazprom with credit from state banks.

Under the order, issued by Ukraine's government on Dec. 29 and published Tuesday, Naftogaz will borrow the money from Oshadbank and Ukreksimbank. The government also said it guarantees that Naftogaz would fulfill the order. Naftogaz spokesman told Dow Jones Newswires the company hopes to pay off the debt by the end of 2008.

Gazprom says Naftogaz owes it over $2 billion for gas deliveries in November and December. If the debt issued isn't settled before Jan. 1, Gazprom is threatening to cut off gas supplies and raise the price to Ukraine significantly.

Gazprom supplies a quarter of Europe's gas needs. The majority of that is shipped through pipelines crossing Ukraine.

Earlier Tuesday, Gazprom said an agreement hadn't been reached but that talks were continuing in Moscow.


Source


[edit on 31-12-2008 by Mdv2]

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