FT: Europe risks ‘significant’ gas shortages this winter

Europe faces a “significant risk” of gas shortages this winter if there is any disruption to Russian supplies through Ukraine, one of the continent’s leading energy executives has warned.

Christophe de Margerie, chief executive of Total, the French oil major, told the Financial Times that Europe could struggle to find alternative sources of supply, even without Moscow retaliating against western sanctions by cutting energy supplies.

“Not only Total but the industry is saying: be careful. It has nothing to do with an embargo. But if for technical reasons, if for sabotage reasons there is a shortage, yes, we will have difficulties in providing gas from other sources,” he said.

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Source: FT, 2014

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