Russian Energy Policy – The Musical
Back in February, the Russian gas monopoly Gazprom gave us all a chuckle by threatening “cuts in European exports if gas demand slumps”. Well, they’ve been as good as their word, because, as the Times reports, Gazprom now plans to
“reduce natural gas output by up to 18 per cent this year due to falling demand from recession-hit countries”
That’ll teach us ! Coincidentally,
“The company gave no reason as to why it had further reduced its dividend”
For those unaware of gas industry basics, there is a very distinct limit to the amount of gas storage available, and it all gets filled up every summer anyhow. You either leave it in the ground, or flare it off; and even the Russians aren’t too keen on the latter these days.
So – gather round and feast your senses on the video-clip above!
A genuinely hilarious contribution to understanding energy policy, courtesy of one of those splendid Russian military choirs.