Europe Will Be Dependent On Russian Energy Supplies For Years

Europe Lacks Realistic Alternative to Russian Energy Supplies – Analyst. © RIA Novosti. Ilya Pitalev

Europe Lacks Realistic Alternative To Russian Energy Supplies – Analyst -- RIA Novosti

MOSCOW, April 4 (RIA Novosti) - Russia's natural gas supplies to the European Union have no practical alternative, a senior energy analyst at the Colorado-based IHS company said Thusday.

"The EU's reliance on Russia to meet approximately 30 percent of its total gas demand means that there is no realistic alternative to European dependence on Russian energy supplies," Andrew Neff said.

The February uprising in Kiev led to the termination of existing gas deals between Russia and Ukraine, marking the end of a discount Moscow granted the country in late 2013.

The split has alarmed Russia's gas customers in Europe, who receive up to 80 percent of their Russian gas via the Ukrainian pipeline. Ukraine's energy minister said the country's debt to Russia in April will be about two billion dollars.

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My Comment: I love the words that this RIA Novosti post uses to describe European efforts to find alternatives to Russian energy exports .... lacks realistic alternatives, a hodgepodge of potential policy options, there is no guarantee of success, etc.. In short .... Europe is dependent on Russian natural gas, and will be dependent in the years to come.

Update: This will be a shocker and one that is probably .... Gas prices in Europe to rise 50%, if it abandons Russia’s supplies – Russian Energy Minister -- RT