BR100 Decreased By (-0.91%)
BR30 Decreased By (-1.47%)
KSE100 Decreased By (-0.78%)
KSE30 Decreased By (-0.75%)
AGHA 6.70 Increased By ▲ 0.02 (0.3%)
BECO 4.37 No Change ▼ 0.00 (0%)
BML 56.00 Decreased By ▼ -1.32 (-2.3%)
BOP 30.09 Decreased By ▼ -0.26 (-0.86%)
CNERGY 12.95 Decreased By ▼ -0.17 (-1.3%)
CSIL 5.33 Decreased By ▼ -0.08 (-1.48%)
FCCL 51.50 Decreased By ▼ -1.29 (-2.44%)
FFL 14.47 Decreased By ▼ -0.25 (-1.7%)
FNEL 1.22 Increased By ▲ 0.10 (8.93%)
KEL 6.03 Decreased By ▼ -0.06 (-0.99%)
KOSM 5.84 Increased By ▲ 0.11 (1.92%)
LOTCHEM 26.20 Decreased By ▼ -0.26 (-0.98%)
MLCF 91.00 Decreased By ▼ -2.16 (-2.32%)
NBP 164.00 Decreased By ▼ -0.66 (-0.4%)
NCPL 53.00 Decreased By ▼ -2.66 (-4.78%)
NPL 59.40 Decreased By ▼ -1.76 (-2.88%)
OGDC 313.67 Decreased By ▼ -3.06 (-0.97%)
PACE 9.72 Decreased By ▼ -0.15 (-1.52%)
PAEL 35.27 Decreased By ▼ -0.36 (-1.01%)
PIBTL 14.71 Increased By ▲ 0.03 (0.2%)
PPL 221.18 Decreased By ▼ -5.73 (-2.53%)
PRL 90.91 Decreased By ▼ -2.11 (-2.27%)
PTC 58.53 Decreased By ▼ -1.73 (-2.87%)
SSGC 23.30 Decreased By ▼ -0.51 (-2.14%)
TBL 8.78 Increased By ▲ 0.03 (0.34%)
TELE 7.60 Decreased By ▼ -0.20 (-2.56%)
TPL 22.03 Decreased By ▼ -0.32 (-1.43%)
TPLP 12.60 Decreased By ▼ -0.37 (-2.85%)
TREET 21.77 Decreased By ▼ -0.39 (-1.76%)
TRG 55.91 Decreased By ▼ -0.65 (-1.15%)

imageBERLIN: European Energy Commissioner Guenther Oettinger does not expect Russia to switch off gas supplies to Europe over the Ukraine crisis, he told German magazine Wirtschaftswoche in an interview published on Saturday.

"I don't believe it would be in Russia's interests," Oettinger was quoted as saying.

Russian gas export giant Gazprom issued a thinly veiled warning on Friday that it could stop shipping gas to Ukraine over unpaid bills.

Ukraine is a major gas transit nation for supplies from Russia to the European Union, which relies on Russia for about a quarter of its gas.

But Oettinger said a cut-off would not be beneficial for the company: "Gazprom has an interest in its daily sales revenues so that investment is worthwhile and turnover is generated."

Oettinger said if no more gas flowed through Ukraine, it would affect 14 percent of European gas consumption.

In early 2009 Gazprom cut off gas to Ukraine over unpaid bills, leading to reductions in European supplies during a cold winter.

But Oettinger said Europe was better placed to deal with such a scenario given that the winter had been mild, gas storage sites were fuller than a year ago and European Union countries were now obliged to ensure they had 30 days' worth of supplies.

"We're in a better position than we were five years ago," he said.

Comments

Comments are closed for this article.