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Der Standard - Austria | Monday, October 20, 2014

Create new gas supply routes for the EU

According to an announcement by Ukrainian President Petro Poroshenko on Friday, Moscow and Kiev have agreed on a compromise in the gas dispute. This is good news but Europe still needs to reduce its dependence on Russian gas, the left-liberal daily Der Standard comments: "The EU can also breathe a sigh of relief given that several countries depend not just on Russian gas but also on the pipelines that run through Ukraine. However this reprieve is not without its price for Europe, which will effectively have to pay Ukraine's 4.5 billion dollars in debts to Gasprom. ... The only possible conclusion is that which Europe should have arrived at long ago: it must seek alternative gas routes and energy sources. ... But better late than never. So it must boost production in Europe and imports from North Africa or Norway. It must build liquid gas terminals and pull out of fossil energy. This will entail costs, but independence doesn't come for free."

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