It's getting cold in Europe...

[Beefy187]

Its actually warmer then usual in the far east (Asia)

Dont know why though

[Shaka_Khan]

Its actually warmer then usual in the far east (Asia)

Dont know why though

Because their gas isn't being cut off.

[Don Corleone]

I've often wondered about this entire issue. On the surface, I find my sympathies lie, suprisingly, with Russia and Gazprom. But I'm curious as to the level of confidence and trust the EU is placing in Russia in entrusting its energy policy to a nation with newly restated imperialistic aims that has frequently used the flow of gas as a tool of intimidation.

I don't begrudge the Russians the right to use their gas to their best advantage. I question the EU leadership that's going to load a revolver, hold it to their heads, and let Putin hold the trigger. As Rory said, diversity in the energy markets is the key, whether it be dealing with oil barons at Exxon-Mobil or gas-barons at Gazprom. As long as you have only one option, you have none.

[Sarmatian]

EU countries would like nothing more than to diversify their supply but they can't, that's the issue. Plans for Nabucco exist for a long time now but there isn't enough gas to fill it up. Russia secured the deals with most ex-USSR countries about gas. The only country left in the near vicinity of Europe that has huge amounts of gas, or better to say enough to be a reliable long-term supplier, is Iran.

[Guildenstern]

The only country left in the near vicinity of Europe that has huge amounts of gas, or better to say enough to be a reliable long-term supplier, is Iran.

The distribution of Iran gas to Europe remains a big problem. There is no doubt that the transport of Iranian natural gas to Europe through Turkey would provide an attractive alternative to European reliance on Russian supplies. But such a deal would certainly also undermine US efforts to isolate Iran's oil and gas economy. As a matter of fact, although Iran and Europe hold a mutual attraction over their natural gas interests, the US is still opposed to the trans-Turkey gas sales. The US remains determined to curtail investment in Iran and Europe interests are tempered by US efforts to isolate Iran from the international community. Maybe things will change with Obama...

[rasoforos]

My thermometer showed 23 today...global warming is our friend

Seriously now, alternative sources are not the solution because frankly they go through or originate of inherently unstable countries (Algeria, Iran, Ukraine etc.)...

...its time we use the sun and the wind. Simple and can be diversified.

[Sarmatian]

The distribution of Iran gas to Europe remains a big problem. There is no doubt that the transport of Iranian natural gas to Europe through Turkey would provide an attractive alternative to European reliance on Russian supplies. But such a deal would certainly also undermine US efforts to isolate Iran's oil and gas economy. As a matter of fact, although Iran and Europe hold a mutual attraction over their natural gas interests, the US is still opposed to the trans-Turkey gas sales. The US remains determined to curtail investment in Iran and Europe interests are tempered by US efforts to isolate Iran from the international community. Maybe things will change with Obama...

Yes, EU efforts for Iranian gas are seriously hampered by the US, although even that wouldn't eliminate the need for Russian gas. Economic crisis aside, eastern European countries are experiencing a huge growth and the EU demand for gas will rise dramatically in the following years. So even with the Iranian gas, Russia would remain main gas supplier to the EU.

Some good things that may come out of this gas row as Gazprom and other big European gas companies will try to accelerate building of alternative pipelines, namely Nord and South Stream, which go around Ukraine...

[HoreTore]

Yes, EU efforts for Iranian gas are seriously hampered by the US, although even that wouldn't eliminate the need for Russian gas. Economic crisis aside, eastern European countries are experiencing a huge growth and the EU demand for gas will rise dramatically in the following years. So even with the Iranian gas, Russia would remain main gas supplier to the EU.

Some good things that may come out of this gas row as Gazprom and other big European gas companies will try to accelerate building of alternative pipelines, namely Nord and South Stream, which go around Ukraine...

Uhm.... Saudi Arabia has some gas, don't they?

Anyway, we're self-supplied up here in the cold north

And we run on hydro-electricity anyway....

[Guildenstern]

Some good things that may come out of this gas row as Gazprom and other big European gas companies will try to accelerate building of alternative pipelines, namely Nord and South Stream, which go around Ukraine...

I read that the South Stream pipeline would go from the Russian Black Sea coast across the seabed to Bulgaria, there to bifurcate into a southern branch toward Greece and Italy and a northern branch toward Serbia, Hungary, and Austria. In addition, Russia has proposed to extend this structure to many other countries along those routes.

Now, even if the South Stream project implies the diversion of significant gas volumes from Ukrainian pipelines, I think it is very difficult for Gazprom to satisfy all those potential customer countries along South Stream routes. There are prospects of important gas shortfalls for Russia, relative to its multiple, and growing, internal and external supply commitments from a stagnant production. Shortfalls are expected right when the South Stream becomes operational. After two decades of underinvestment in exploration and production (while over investing in other areas), Gazprom can only hope for large-scale production from new fields in Yamal (Siberia) in the latter part of the next decade.