Considering the tone coming out of Brussels these days, I think it is safe to say that Russia has really blown its trusted “reliable supplier” cover after a few too many supply cuts. This new draft law looks very interesting, such as the recommendation from Piebalgs and the EC that member states “share information on their gas demand and supply.” This has long been the biggest problem, and having European states share the details of their pricing deals with suppliers is like kryptonite for Gazprom – the last thing a monopoly wants is transparency.
From the Associated Press:
The European Union called Thursday on member nations to ramp up natural gas storage and build more pipelines to cope with any future cutoff in energy supplies from Russia.
In January, thousands of homes went without heating and some power plants shut down when gas stopped flowing through pipelines from Russia due to a payment dispute with its neighbor Ukraine.
EU officials complained that Europeans were held hostage by the row and are seeking new routes and sources for energy — something that will take years to realize.