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2014-04-18 18:08:00

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Russian President Vladimir Putin said on Thursday it would not be possible for Europe, which is trying to cut its reliance on Russian energy, to completely stop buying Russian gas.

Putin also said that the transit via Ukraine is the most dangerous element in Europe's gas supply system, and that he was hopeful a deal could be reached with Ukraine on gas supplies.

Russia meets around 30 percent of Europe's natural gas needs. Moscow's actions in Ukraine have spurred attempts by the continent to reduce its dependency on oil and gas supplies from the former Cold War foe.

"Of course, everyone is taking care about supply diversification. There, in Europe, they talk about increasing independence from the Russian supplier," said Putin.

"It's just like we begin to talk and take action towards independence from our consumers," he added. Russia has made efforts to forge closer ties with Asia.

Reuters calculations suggest Europe's efforts could slash imports from Russia by around 45 billion cubic metres (bcm) by 2020, worth $18 billion a year, equivalent to a quarter of what Russia currently supplies.

"We sell gas in European countries which have around 30-35 percent of their gas balance covered by supplies from Russia. Can they stop buying Russian gas? In my opinion it is impossible," he said during an hours-long televised question and answer session.

reuters.com

Tags: EUROPE, RUSSIA, GAS

Chronicle:

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2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

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2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

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2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

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2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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