Gas exporting nations to meet in Moscow to form a new energy cartel (23.12.2008) je 08

Russian gas export monopoly Gazprom has stepped up pressure on Ukraine to pay debts. Gazprom warned European customers about potential disruptions to gas transit should Kiev fail to pay up. About 80 percent of Russian gas exports to Europe flow through Ukraine. Moscow depends heavily on oil and gas to run the country, so it is interested in consolidating its influence on world energy markets. A meeting is taking place in Moscow that could result in a new energy cartel. +++Syn-Maz+++