quote:
How would this work? That is, it there sufficient volume of natural gas from other sources to replace the European embargoed Russian natural gas?

I'm honestly not sure. And I know it's going to be the hardest to accomplish. I don't think it would happen. Europe seems perfectly fine with what Russia is doing.

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Posted by KosmoCramer

Member since Dec 2007

76651 posts

Posted on 3/4/14 at 6:12 pm to rcd0808

quote:
I'm honestly not sure. And I know it's going to be the hardest to accomplish. I don't think it would happen.

Here are the numbers from 2007, doubt it's changed much:

quote:
In 2007, the European Union imported from Russia 185 million tonnes of crude oil, which accounted for 32.6% of total oil import, and 100.7 million tonnes of oil equivalent of natural gas, which accounted 38.7% of total gas import

They don't want to sanction because they can't.

quote:
Europe seems perfectly fine with what Russia is doing.

And that's an idiotic statement.

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Posted by GumboPot

Member since Mar 2009

119554 posts

Posted on 3/4/14 at 6:25 pm to rcd0808

quote:
Europe seems perfectly fine with what Russia is doing.

From what I understand Europe (especially eastern Europe) really has no choice of natural gas suppliers except Russia. To change the market, it's going to take years simply due to the fact that you cannot install energy infrastructure overnight. It's Putin's trump card.

However production and pipelines from the Leviathan oil field in the eastern Mediterranean though Turkey to eastern Europe can change the current european energy paradigm. But that appears to be a decade away, at least.

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