On the negative side, PIs who are not aware of Gazprom may worry because of the news.
On the positive side, PIs will want to get a chunk of Soviet O+G.
These should balance. Could call it yin and yang if you wish.
Yes, Russia is flexing its muscles with Ukraine. But, hey, I'm afraid they are able too.
Russia is the place where a large percentage of the World's commodities are, and we are all going to have no choice but to depend upon them.
North Sea gas is rapidly diminishing. A new line to Norway is going to provide 30% of the UK requirement. That leaves us with a great big hole that is going to have to be filled.
The Baltic line straight from Russia to the UK via Denmark is going to be the route of the remainder of our requirement, in my opinion.
Naturally, this is focussed on the UK issue. Every country will have their own issues, and the World is not that plentiful, that it can turn down Russian gas.
Beggars can not be choosers. All the calcs that I have seen are for VOG selling gas to Gazprom for $40. They in turn are going to be selling it for $230-240*, without lifting a finger. Great deal for VOG and her shareholders. Fantastic deal for Gazprom.
The only losers are the poor consumers who have no choice.
*These prices are likely to rise dramatically over the next year.
DYOR.
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