Pipelines and politics

The latest in a long line of disputes over natural gas supplies from Russia is raising concern among utility customers and investors that future supplies to the West may be disrupted. But is this a long-term problem? Oliver Holtaway reports

When 7.8 billion cubic metres of gas goes missing, much of which is destined for energy-hungry markets in Western Europe, it is bound to raise some eyebrows.

European customers and investors alike have been watching closely as the latest supply disruption – this time a dispute between Russian gas giant Gazprom and its Ukrainian counterpart Naftogaz – rumbles on (see box). And given the importance of Gazprom to the future of the European gas market, investors’ nerves are understandably frayed.

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