01.07.15 Russia turns off gas tap

Posted on July 1, 2015
Archive : July 2015
Category : Energy News

The last thing anyone wants to think about when we're basking in the record-breaking sunny temperatures, is Winter energy supply and costs – but consider this: Gazprom, the big Russian gas company, has just halted gas supplies to the Ukraine for the second time this year. So, what's this to do with us, you ask yourself. Well, in May Centrica, Britain's largest energy supplier, signed a new contract with Gazprom to supply us with even more Russian gas than ever before. This comes at a time when the EU, where a third of the total gas used is Russian, is trying its hardest to reduce dependence on it and when relationships with Mr Putin are also extremely frosty. So if you're suffering from a numb bum this Winter, it may well not be just about the ability to keep affordably warm, you could also be suffering from an over-exposure of Russian gas and the fact that the big bad bear has just helped himself to a big bad bite. Funny language Russian, they don't seem to have a phrase for 'energy independence'.

Source: Reuters and the BBC. To read the complete BBC story please click here.