Engineering and Technology Magazine: EU gas pipeline only way out for Ukraine
Ukraine has to reduce its energy dependency on Russia by integrating into the EU gas pipeline system, expert said as Russia hikes gas prices for Ukraine to new heights.
Focus on domestic gas development, particularly on shale gas, demand reduction, energy efficiency and closer EU integration could save Ukraine from a widespread energy crisis, said Michael Bradshaw, Professor of Global Energy at Warwick Business School and expert in energy security in Europe.
His comments come in reaction to the decision of Russia’s energy giant Gazprom to increase prices of gas delivered to Ukraine by 40 per cent, basically withdrawing the discount agreed in December 2013 as part of a package designed to lure Ukraine to turn away from the EU and reinforce its ties to Russia.
Ukraine will now have to pay $385.5 (£232) per 1,000 cubic metres of gas in the second quarter, which is more than the average price for clients in the European Union but around the level Kiev had expected. MORE