Ukraine’s political crisis has showed Europe just how reliant they are on costly Russian natural gas and sparked calls for the U.S. to quickly approve liquefied natural gas export terminals to the EU.
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A politically unstable Ukraine is not only bad for European gas supplies, but it also makes life harder for Vladimir Putin as well.
Russia is pushing ahead with strategies to make Ukraine less crucial in its bid to dominate Europe’s natural gas market.
Russia’s state-owned gas company Gazprom said on Tuesday that it was moving forward with building the South Stream natural gas pipeline which would get fuel to central and southern Europe without passing through Ukraine.