EU Finds Alt to Russian Gas
By Micah Halpern
Russia supplies oil and gas to the European Union.† And the EU is afraid that Russia will cut off the supply.†
Moscow has said that despite the sanctions, the supply will not be shut off. Thatís because Russia needs the money.† And as far as Russia is concerned, the more expensive the oil and gas, the better it is for Russia.
The status quo is too uncertain and the EU needs to find alternative oil. If they can accomplish that maneuver, it will make them more secure and it will hurt Russia.
Of all countries, Nigeria has popped up as an alternative.
Matthew Baldwin, deputy director general of the European Commission's energy department, is the person who first made this possibility public.
Baldwin was in Nigeria where he held meetings with officials from Africa's largest oil producer when he was told that Nigeria was improving security in the Niger Delta and planned to re-open the Trans Niger pipeline sometime after August.†
If it happens, it would yield more gas exports to Europe and solve the problem of their reliance on Russia.
This is very good news for everyone - except Russia.
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28 July 2022 11:04 AM in Thoughts
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