Which European countries would be hardest hit by a Russian gas embargo?
With relations between Europe and Russia at their worst point since the fall of the Berlin wall, the Institute of Energy Economics (EWI) has taken it upon itself to examine what would happen to various European nations if Russia imposed a gas export embargo in November 2014.
The good news for the UK is that even with a nine-month embargo Britain would still have a secure supply of gas thanks to possessing reasonable amounts of its own reserves.
However, the study also looked at what happen in the event of a week long cold snap during a six-month embargo. Under this scenario, the UK would suffer along with “almost the entirety of Europe”.
The country that would have most to lose from an embargo would be Finland, according to the study. Finland would be hit hard by a cut-off of Russian gas after only one month since all of its gas comes from Russia. Shortages could reach up to 10 per cent in the first month and more than 50 per cent after three months.
Source: cityam
