Chances of gas cut ’50-50′, Russia warns Ukraine
According to Yahoo!News:
MOSCOW (AFP) - - There is a "50-50" chance that Russia will cut off gas supplies to Ukraine on January 1 over Kiev's failure to pay its debts, Russian energy giant Gazprom said on Saturday.
"I think it's 50-50," Gazprom spokesman Sergei Kupriyanov told radio station Moscow Echo in an interview, when asked if Russia would cut gas deliveries or the two sides would clinch a last minute deal.
Gazprom says that Ukraine's state gas company Naftogaz owes it over two billion dollars for gas delivered in November and December and fines for late payment.
Ukraine is a major transit country for Russian gas exports to the European Union and a dispute over gas prices led to a brief interruption of gas supplies in several EU countries in January 2006.
Gazprom has said it will fufill its obligations to Europe but has also warmed it cannot rule out disruptions to European supplies if Ukraine siphons off transit gas during a crisis.
Read the full article at Yahoo!News:
- The above articles means that Ukraine may PLUNGE INTO TOTAL DARKNESS during the winter season coming 1st January "again".
This spells dangers of millions of Ukraine people freezing to death if they find themselves without natural gas to heat their homes and cook their meals.
It had been done before and it now have "50 per cent" chance of happening again during this peak period for heating fuel.
Yes, Russia have their own ways to jack up the prices of the natural gas prices and this is just One of the ways...but anyone can blame them? The oil prices collapse had crippled their oil industry to a point that most likely many new projects for exploration may be halted indefinitely due to the "cost" issue.
Unless the oil prices goes back above $70 to $100 per barrel, Russia's & Iran's Economies including all oil producing countries economies may be temporary goes below water level and cause havoc to the whole industry of Big Oil.
Seriously, we might be seeing more supply cut and possible military tension brewing in the horizon but I like to remain optimistic and says we proceed with extra caution especially the region near Somalia where multinational Navy ships occupied a relatively small region.
Not much to add for now until 1st January 2009 and Belated
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