Meaner politics is in the gas pipeline

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By Damian Reece, Head of Business


Published: 11:21PM GMT 08 Feb 2010

Possibly, but the regulator seems rather more prescient than its detractors,
given the news that Gazprom, and its joint venture partners, are mothballing
the enormous Shtokman gas field under the Barents Sea.

In a recovery, where is Europe going to get its gas? Shtokman won’t open until
at least 2016, but only then if a new decision to invest in 2011 goes ahead.

Europe doesn’t have the liquefied natural gas storage facilities sufficient to
rely on imported LNG – new ones in Poland and Croatia are rumoured to be on
hold.

The UK does have facilities which Europe could suck dry unless Parliament
legislates to hold it back – Shtokman means the politics of energy just got
meaner.

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