Power and profitability: Europe's gas security dilemma
The sheer scale of the energy dilemma facing Europe became clear in Riga on Wednesday as experts from around the world discussed the issue of natural-gas security. "Diversity and security of energy supplies are vital ... When national security is at stake, no costs are too high," EU Energy Commissioner Andris Piebalgs told the Baltic Regional Energy Forum.
Ever since Russia's gas monopolist, Gazprom, cut supplies to Ukraine during a pricing dispute in January 2006, debate has raged over the best way to ensure gas security in Europe. According to Gazprom's figures, the company supplies almost a third of Europe's gas imports. In much of Eastern Europe - including Finland, the Baltic states and Poland - it is the sole supplier.
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