EU new gas deal with Azerbaijan as fears grow over Russia’s supplies
From www.cnbc.com
2022-07-18 11:19:42
Excerpt:
The EU is to sign a new gas deal with Azerbaijan as officials scramble to secure future supplies amid growing fears about a Russian cut-off.
European officials have been preparing for a potential complete shutdown of gas supplies from Russia in the wake of Moscow’s invasion of Ukraine. Russia has for several years been Europe’s most important source of natural gas, but there’s now a firm push by Brussels to reverse this.
Russia has denied that it is using gas as a weapon against the West, however supplies have fallen by more than 60% in recent weeks. In addition, the shutdown of the Nord Stream 1 pipeline — a crucial transit point of Russian gas to Germany and beyond — for maintenance work has added to concerns that Moscow could potentially end its supplies of gas to the bloc…