European Energy Woes

... and political factors. However, at the current stage under the conditions of non-liquid, non-transparent and non-competitive European market, to suggest that we should follow a basic principle of free market as found in an economic textbook, is unrealistic ... .... No special order can be successful in launching this idea, but some harmonization has occurred. As we’ve seen with Ukraine, it has a liberal economy and it has been able to use reverse flows to buy gas cheaper than from Gazprom, by not very much, but still cheaper. So, sooner or later, Gazprom will need to drop prices. As European market will develop,...