Crisis resolved, mystery remains
2009-01-13
Gazprom flipped the switch this morning and resumed natural-
gas flows to the EU. Czech consumers and companies weren't
directly affected by the week-long crisis, unlike some of their
Central and Eastern European brethren. However, the crisis does
raise the question of how much the opaque system of energy-
trading companies is costing Czech consumers. According to
media reports, Swiss-based RosUkrEnergo has a lucrative
contract to ship gas across Ukraine to the EU. RWE Transgas
says, though, that it has only one supplier, Gazprom Export, and
that it delivers gas to RWE on the Ukrainian-Slovak border. Who
else is involved in getting the gas to that point, and how much
is being skimmed off and sent to Zug, isn't something anyone
wants to talk about. By pushing for a quick end to the
immediate crisis, the EU has missed a chance to unravel some of
the gas-trading mystery.
[Czech Republic European Union Ukraine Russia Switzerland]
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