Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Russia is sending more natural gas to Europe than ever before as a blast of Arctic air lifted demand for heat and electricity, underlining the region's dependence on its eastern neighbor.Spot gas prices tripled to a record, drawing in more Russian supplies by pipeline and prompting a tanker of the fuel in its liquid form to schedule arrival in the U.K. next week.With a dissipating capacity to store gas and few tankers of liquefied natural gas arriving this season, Europe and particularly the U.K. is increasingly reliant on Russia to feed its energy needs. Europe's consumption jumped to highest level in at least five years during the week through Feb. 24, and this week's cold snap drove demand higher still, according to estimates from London-based Marex Spectron Group Ltd.Russia, which shipped some $38 billion of gas to its most lucrative markets in Europe last year, has diminished thoughts that other suppliers could ensure supplies in Europe anytime soon.Earlier this week, Russian President Vladimir Putin said it's "obvious" that LNG arriving on tankers in Europe will remain more costly than Russian pipeline gas for the next decade.
FOLLOW THIS ARTICLE