The combustibility of natural gas makes it a potent weapon. When Gazprom, a giant gas company controlled by the Russian state, cut off supplies to Ukraine in early 2009, in a dispute over unpaid bills, Europeans farther west suffered too. Gazprom provides about a quarter of their gas, to heat homes, fire industrial furnaces and fuel power stations, much of it via a pipeline through Ukraine. European utilities and regulators have since tried to reduce the Russian company's market power. Although they may seem to be winning the battle, Gazprom could yet outmanoeuvre its customers.
展开▼
