In the wake of Russia's decision to switch Ukraine to prepayment for gas starting Monday, the European Union is planning a new round of negotiations as the danger of supply disruptions to Europe heightens.While the Irish Times reports:
European officials say, however, that the bloc is currently far better prepared to cope with shortages than it was back in 2009, when a dispute between Ukraine and Russia disrupted gas supplies to Europe.
"Much has changed [since 2009]. We did a lot to improve the security of gas supplies. There are interconnections between member states; we have more reverse flow options. It is easier to help each other if necessary," European Commission spokeswoman Sabine Berger said.
Europe on average depends on Russia to supply a third of its gas, half of which goes through Ukraine, so only 15 percent of EU supplies are endangered.
Nonetheless, the European Commission, which mediated the unsuccessful gas talks between Russia and Gazprom, still hopes for a mutually beneficial resolution.
Ukraine's storage facilities now hold 13.5 billion cubic meters, or bcm, of gas, according to the Gas Storage Europe monitoring agency.
However, if Ukraine does not pump up its gas reserves to at least 18 bcm by the end of summer, deliveries to the EU will be at risk in winter, EU Energy Commissioner Günther Oettinger said at a news conference in Vienna on Monday, following Russia's decision to switch Ukraine to prepayment.
Gazprom said in a statement on Monday that gas transit to Europe was continuing unhindered and Berger said the same day that the supply to the EU "is normal."...MORE
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