VPC - UNDERVALUED OIL STOCK

European Union officials are due to meet for emergency talks on Jan. 4 to discuss the situation.

Aside from Germany, Russian gas goes to Italy, France and Austria, as well as central European markets including Poland and Hungary, which say they have been preparing for supply disruptions.

Britain, which relies on imports from Belgium to meet winter demand, could also feel the squeeze if Russian flows to mainland Europe start to drop, traders said.

If continental Europe feels uncomfortable about its own supply situation then exporting gas to Britain will not be their top priority, traders said.

Britain's gas supply is already tight as output from its ageing North Sea fields drops.

A squeeze on gas supplies could also force up prices across Europe, which are already close to record highs after rallying in line with oil prices.

>>>>>>>>I would guess that Ukraine will announce they are entitled to "X" amount of gas in payment for transit costs, Russia will suspend all gas and the price in UK will reach a record high.

and VPC to finally breakaway from £5.20-30 range :>)

Mick