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 Putin's plans for new gas pipes to Europe politcally motivated, - Bloomberg

Russian plans to build new gas pipelines to Europe are politically motivated with little economic logic.

A senior U.S. official said, Censor.NET reports citing Bloomberg.

Acording to the source of Bloomberg, President Vladimir Putin has proposed new links to Europe via the Baltic and Black Sea that would bypass an existing transit corridor through Ukraine as tensions between the former Soviet allies grow.

Read more: Ukraine should remain important gas transit hub, - European Commission Vice-President Maroš Šefčovič

The European Union is seeking to cut its dependence on Russian gas after shipments were interrupted twice in the past decade over disputes between Moscow and Kyiv.

A new southern link toward Greece and Italy, being considered by Russia, is a "political project with a political goal," Amos Hochstein, U.S. special envoy for international energy affairs, said Monday in an interview in Baku, the capital of Azerbaijan. The various proposals "are simply restating political projects that have questionable economic value especially in these market conditions."

Read more: Ukraine-Russia total mutual claims amount to almost $100 billion

Gazprom PJSC last week signed a memorandum of understanding with Edison SpA and Depa SA on a possible pipeline project to deliver gas from Russia through the Black Sea, which could use works made for other links, including an undersea connection called Poseidon between Greece and Italy. That project may compete with the U.S.-backed Trans-Adriatic Pipeline, or TAP, that will ship Azeri gas to those EU nations from the Turkish border.
 
 
 
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