Plummeting oil and gas demand leaves Russia in trouble

Russia is in financial difficulties and has slumped into a depression after gas and oil revenues have decreased dramatically. Russian gas giant Gazprom’s revenues are due to drop by a third after European demand has plummeted leaving the Russian economy in a precarious position. Bad news for the eastern country with shoplifting already on the […]

Gas cut in Ukraine goes mostly unnoticed

Gas supply talks between Russia and Ukraine failed after they were unable to agreed on a price at the end of their contract leading to a little known about supply cut in the latter. Ukraine failed to make an advance payment for July deliveries, and Gazprom “won’t deliver gas to Ukraine at any price without […]

Centrica increases dependence on Russian gas imports

Centrica are set to increase and extend its gas contracts with Norway and Russia, leaving the UK relying precariously on imports to meet domestic demand. Centrica will increase its contracted supply with Norway’s Statoil by 50 per cent, and with Russia’s Gazprom by 75 per cent in order to make up the shortfall left by […]