Calls for EU Energy Strategy

14 January 2009

The agreement between Russia and Ukraine was short lived and has prompted talks about the need to start an EU energy strategy

The agreement between Russia and Ukraine was short lived and has prompted talks about the need to start an EU energy strategy. Despite Russia and Ukraine reaching agreement (eventually) over transit of gas, and with supplies expected to start flowing at 08.00 Tues 13th January, it was not long into the day before Russia declared Force Majeure on its European gas contracts with transit problems still occurring in Ukraine. The length of this dispute and the time it has taken to reach resolution is clearly causing major concerns across the European Community with calls from Energy Ministers for reports to be quickly drawn up on market transparency, common strategic stocks and security of supply. Countries have already been pulling together agreeing to share gas stocks and reducing consumption, but agreements regards increased production are not obvious. There is no clear understanding of what warrants a "major supply dissruption" and the European Commission, when addressing this issue would formulate how companies and regions could help each other in such circumstances. In addition, the supply disruption has highlighted the lack of storage and cross-border capacity in Europe


Gas  EU  Supply  Russia 

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