10 May, 2014 01:35 ▪
The Independent: G7 leaders prepared an 'emergency response plan' to assist Ukraine if Russia restricts gas supplies
According to the newspaper, EU and US are drawing plans to “disarm” the threat of President Vladimir Putin using Russian gas and oil supplies as “a weapon” against Ukraine and its Eastern European neighbours.
Russia currently supplies around 30 per cent of all gas consumed within Europe and more than 50 per cent of the gas used by Ukraine.
“Under the G7 proposals, support would be given to build several new liquefied natural gas (LNG) terminals across Europe, while the US would lift restrictions on the export of shale gas,” The Independent reports
Japan, according to the newspaper, is also understood to be prepared to re-start some of its nuclear plants that were mothballed in the wake of the Fukushima disaster. Japan is now one of the largest importers of LNG, which has pushed up prices to record levels.
Senior Government sources said The Independent that the ongoing crisis had “concentrated minds”, particularly in Europe, over the energy threat and said there was for the first time a “clear consensus” to take action.
A Downing Street source confirmed that Mr Cameron “fully backed” the strategy, adding that it was possible that the G7 leader summit in Brussels could “go further”.
“We will be examining the full range of options available,” they added.
- Naftogaz cuts supply of gas to a minimum for 11 oblasts
- Financial Times: Brussels paves way for Ukraine gas deal with Slovakia
- The Economist: increase in the reverse gas flow from Europe to Ukraine is blocked by the energy oligarchs with strong connections to Yanukovych and Gazprom
- Financial Times: Improving Ukraine's energy-wasteful housing stock is one way to get away from Russia's grip
- Ukraine could become a hostage of the German-Russian energy cooperation
- The Financial Times: cleaning up of the gas games at the EU’s eastern border could liberalise the energy equation in Eastern Europe
- Expert on Putin’s gas discount statement: Gazprom is trying to save itself through Firtash’s group, its agent in Ukraine
- Putin talks about help to “Ukrainian friends” with a USD 750mn loan and a discount for gas
- Edward Lucas: the EU has enough strength to respond to Russia’s pressure
- Supreme Court will not revise Tymoshenko’s verdict in the gas case