This is an excellent article published by European think-tank Bruegel. Check it out!
via The Gazprom case: good timing or bad timing? | Simone Tagliapietra and Georg Zachmann at Bruegel.org.
It seems that Russian giant Gazprom charges different prices in different markets. There are also some unusual conditions too.
Anybody familiar with Russia will not be surprised that economics are tied to politics.
But in Europe, we have rules designed to protect the consumer. Unfortunately, it is questionable whether Europe can enforce the rules against Gazprom. Europe needs Russia’s gas.
Matters would be much better if Europe had a an energy strategy that combined with both foreign and defense policies. Unfortunately, the EU seems preoccupied with green issues rather than strategy. Also there’s a tendency for each country to look after their own energy interests.
It’s a shame that Europe does not invest in Cyprus‘ offshore gas industry and secure a steady and secure supply.