RIA Novosti: EBRD Voices Concerns Over European Energy Security
The European Bank for Reconstruction and Development (EBRD) is concerned about the issue of energy security in Europe, the bank's president, Suma Chakrabarti said Thursday.
Given the current geopolitical tensions and "the reliance of many countries on gas from a single source" EBRD has "invested in large-scale projects which can assure against possible interruptions of supply," Chakrabarti said at a Parliamentary Assembly of the Council of Europe (PACE) debate on EBRD activities in 2013-2014.
"We actually began this work after the last energy crisis back in 2012, at the time of tensions between Russia and Ukraine," Chakrabarti noted, adding that EBRD will be financing a gas transit system, including in Ukraine.