This may include advertisements from us and 3rd parties based on our understanding. The price of natural gas was five times more expensive than in the same period last year, as the energy prices have skyrocketed to record highs. Analysts say Russia has played a big role in orchestrating the crisis, after tightening gas travelling into Europe in order to speed up the certification of the Nord Stream 2 pipeline and avoid EU tariffs on the system.
Russian President Vladimir Putin and German Chancellor Angela Merkel have agreed to see the pipeline transit gas from Russia to Germany through the Baltic Sea, bypassing Ukraine and Poland. Certification from German regulators has been suspended in a move that has enraged the Russian President. As winter approaches, demand for energy is set to soar, while Europe s storage facilities are already low. Emily Holland, assistant professor in Russia Maritime Studies, warned that countries across the EU could face gas shortages and potential blackouts. She wrote: The lights in Europe might go out this winter.
The continent is facing a severe energy crisis that could lead to a very cold and dark holiday season across the continent. Ms Holland noted last month that Moldova, which is right on the EU's doorstep, declared a state of emergency when Gazprom cut supplies in the country by a third when its gas contract ran out. Russia's state-owned gas conglomerate is the biggest supplier of gas to Europe, supplying around 40 percent of its natural gas. Russia has a tight grip on the European energy market after the move again reinforced its grip on the European energy market. Ms Holland wrote: Moldova appealed to the European Union for emergency aid, even though it is not an E.U. A member of the EU received 60 million euros to help manage the crisis. Poland and Ukraine, both of whom regard themselves as victims of Gazprom's vice-like grip on Europe, rushed to Chisinau's help and pledged to sell additional volumes.