Sputnik: Serious Risks Evident in EU's New Energy Security Model – Gazprom CEO

Russian energy giant Gazprom sees serious risks in the European Union’s new model of energy security, based on the diversification of gas suppliers, CEO Alexei Miller said Monday.

“Life will show if [the model] is good or bad, but, undoubtedly, we see serious risks inherent in this model,” he said during an energy conference in Berlin.

Earlier in the day, Miller said state-owned Gazprom was ready to work with all models of energy security on the European market.

The safe transit of Russian gas has been a concern for Europe in light of the instability in Ukraine which is a transfer territory for Russia's gas supplies to EU consumers.

In December 2014, Moscow decided to cancel construction of the South Stream pipeline for delivery of Russian gas to Europe through the Black Sea. Russian President Vladimir Putin cited Brussels' counteraction as the reason behind the move.

The European Union receives about 30 percent of its oil and gas imports from Russia, according to European Commission data. Other large gas suppliers for Europe include Norway and Algeria.  MORE