In this interview given to Kate Ferguson from DW News, Dr Carole Nakhle, CEO of Crystol Energy, comments on the halt of the Russian gas flow to Germany via Nord Stream pipeline.
Some of the points covered during the interview:
- Many fear that the stoppage of the pipeline could last longer than three days since Russia has been using its gas supplies to Europe as a political weapon.
- Despite wide variations in the role of gas in – and the dependence on Russian gas of – various EU countries, the EU has in general displayed a more united front vis a vis Russia.
- European countries have been working hard on minimizing the impact of losing their Russian gas however the task has proven to be very challenging not surprisingly given the notable dependence of the EU on this low-cost supplier. This explains why the EU to date has imposed sanctions on Russian coal and oil but not gas.
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